Keurig Green Mountain has preliminarily agreed to pay $36.5 million to investors to settle a securities fraud suit that accused the company and two executives of making misstatements about sales and revenue expectations in 2011, according to papers filed Tuesday in Vermont federal court.
Green Mountain Coffee Roasters, Keurig Green Mountain’s corporate predecessor, was accused of painting a picture of high demand for its single-serve coffee containers.
John Browne, a New York City-based attorney representing investors in Keurig Green Mountain, filed the settlement proposal in Vermont last week.
“If approved by the Court,” Browne said, “the Settlement will result in a significant payment to the Class and will resolve the Action in its entirety.”
