Coca-Cola Co. shareholders sustained damages exceeding $1.3 billion after the international soft drink conglomerate improperly inflated revenues to boost stock prices artificially, a financial expert retained by suing shareholders has concluded. The report surfaced in a securities fraud suit against Coca-Cola by a labor union pension fund, which claims that Coke executives led efforts to mask faltering revenues by pressuring bottlers to purchase $600 million worth of excess soft drink concentrate.
Plaintiffs' Expert: Coke Cost Investors $1.3 Billion
July 2, 2007
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