Robbins Umeda LLP’s* Shareholder Suit Involving Green Mountain Coffee Roasters, Inc. Makes Headlines
On October 6, 2010, a number of local and national news outlets reported on the filing of a shareholder derivative lawsuit involving Green Mountain Coffee Roasters, Inc. Represented by Robbins Umeda LLP and other law firms, a current shareholder filed the shareholder derivative action in the U.S. District Court for the District of Vermont on October 4, 2010. Stemming from a recent inquiry from the U.S. Securities and Exchange Commission, the suit claims that company executives inflated income and improperly recognized revenue in Green Mountain’s publicly filed financial statements and personally profited from selling stocks in addition to misrepresenting the company’s stock. The shareholder seeks damages on behalf of the company sustained as a result of the individual defendants’ alleged breaches of fiduciary duties, waste of corporate assets, and unjust enrichment, and seeks to bring corporate governance and internal procedure reforms at the company. Himmel v. Stiller, et al., No. 2:10-cv-002233-wks (D. Vt. filed Oct. 4, 2010).
* The firm name changed from Robbins Umeda LLP to Robbins Arroyo LLP on January 1, 2013.