Green Mountain says SEC enforcement unit is conducting a revenue inquiry, seeks documents
By APTuesday, September 28, 2010
SEC probes Green Mountain’s revenue accounting
NEW YORK — The Securities and Exchange Commission has requested documents and data from Green Mountain Coffee Roasters related to an inquiry into how it accounts for revenue.
The news sent the company’s shares tumbling more than 14 percent in aftermarket trading on Tuesday.
The Waterbury, Vt., company said it received the request from the SEC’s enforcement division on Sept. 20. In a filing with regulators, the company said it believes the inquiry concerns its revenue accounting practices and its relationship with a unnamed vendor.
Green Mountain said it is fully cooperating with the SEC staff’s inquiry.
Its shares fell $5.31 to $33.06 in aftermarket trading. The stock closed the regular session at $37.01, after setting an all-time high of $37.97 during the day.
