INVESTOR ALERT: Tostrud Law Group, PC Announces Investigation of Diageo plc (DEO) on Behalf of Investors
Diageo plc (DEO)
US:NYSE Investor Relations:
diageo.com/en/investors
Company Research
Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--Tostrud Law Group, PC announces an investigation on behalf of Diageo plc (“Diageo” or the “Company”) (NYSE: DEO) investors concerning the Company and its officers’ possible violations of federal securities laws.On July 23, 2015, The Wall Street Journal reported that the Securities and Exchange Commission (“SEC”) 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, thereby injuring investors.Then, on February 19, 2020, the SEC announced that it had settled the claims against Diageo for $5 million. According to the announcement, “employees at Diageo North America (DNA), Diageo’s largest and most profitable subsidiary, pressured distributors to buy products in excess of demand in order to meet internal sales targets in the face of declining market conditions.” Moreo
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