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Molson Coors Tax Errors Caused Stock Drop, Suits Say

Feb. 15, 2019, 6:30 PM

Molson Coors Brewing Co. didn’t properly calculate its tax liability and misreported its income as a result, investors said Feb. 15.

The beer giant misled shareholders about its finances and caused a stock drop when it came clean, according to a pair of would-be class actions.

Molson Coors bought out SABMiller PLC’s stake in their joint MillerCoors LLC venture in 2016. The company didn’t properly account for the resulting tax liability in the 2016 and 2017 Form 10-Ks it filed with the Securities and Exchange Commission, the complaints said.

A company spokesperson told Bloomberg Law that Molson Coors doesn’t ...