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Article: LAWSUIT ACCUSES COCA-COLA OF INFLATING ITS STOCK PRICE.(Business)
- Article from:
- The Wisconsin State Journal (Madison, WI)
- Article date:
- October 31, 2000
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Copyright informationCOPYRIGHT 2000 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Coca-Cola Co. has been accused in a federal lawsuit of artificially inflating its stock price and misleading investors. The company calls the allegations ``ridiculous.'' Carpenters Health & Welfare Fund of Philadelphia, which manages about $80 million in assets, filed the suit late Friday in Atlanta.
The lawsuit accuses the company and senior executives of forcing major bottlers to buy $300 million to $400 million in soda concentrate last year to help Coke meet third-quarter revenue and earnings forecasts. Those results caused the company's stock price to rise during the fourth quarter, according to the suit.
But the stock fell in January after the ...
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