The lawsuit (Cunha v.
Monster noted that the full settlement payment was being funded by Monster's insurance carriers, and that the settlement would not have any impact on Monster's financial position or its income statement.
Monster further noted that the settlement contains no admission of any liability or wrongdoing on the part of the Company or its officers, and that all of the defendants continue to deny all of the allegations against them and to maintain that the suit has no merit.
In fact, contrary to the allegations in the lawsuit, Monster's relationship with Anheuser-Busch was extremely successful during the proposed class period and thereafter. After that relationship began in 2006, Monster achieved record sales in each quarter during the proposed class period, and significantly improved its Monster Energy product line's market share. Further, despite the lawsuit's allegations of harm to investors, Monster's stock price rose by 75% during the proposed class period, generating nearly
"We are fully confident that we would have prevailed if the litigation had proceeded," said Monster's CEO
Rodney C. SacksChairman and Chief Executive Officer (951) 739-6200 Hilton H. SchlosbergVice Chairman (951) 739-6200 Roger S. Pondel/ Judy Lin Sfetcu PondelWilkinson Inc.(310) 279-5980
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