LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf investors of Diageo plc ("Diageo" or the "Company") (NYSE: DEO). The investigation concerns whether the Company violated specific sections of the Securities Exchange Act of 1934 by issuing materially misleading information regarding its financial performance, and allegedly engaging in “channel stuffing.”
Diageo plc manufactures and distributes premium drinks. The company’s core brands include Johnnie Walker Red Label, Johnnie Walker Black Label, Crown Royal, Buchanan’s, J&B, Baileys, Smirnoff, Captain Morgan, Guinness, Shui Jing Fang, and Yenì Raki. On July 23, 2015, The Wall Street Journal reported that the Securities and Exchange Commission is investigating whether Diageo has been shipping excess inventory to distributors in an effort to boost the liquor company's results. On this news, shares of Diageo fell $4.75 per share, or more than 3.90%, to close at $114.91 on July 23, 2015.
If you purchased Diageo shares, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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