Thursday, 2 October 2014

Current Financial Affairs: Canada's Club Coffee sues Keurig Green Mountain for $600 million

Shares of Keurig Green Mountain popped on Thursday making it TheStreet's Move of the Day. The company known for its single-cup coffee makers announced that it is partnering with sandwich chain Subway to serve its single-serve brews across the restaurant's North American locations. Keurig's president of U.S. sales and marketing, John Whoriskey, said in a statement: "Keurig' brewers help SUBWAY franchisees simplify operations by eliminating the need for separate brewing of regular, decaffeinated and flavored coffee, reducing waste and clean-up of unconsumed coffee." TheStreet's Joe Deaux reports.

This story is related to current financial affairs regarding a Canadian Company. Canada's Club Coffee said it was going to sue Keurig Green Mountain Inc. Canada Club Coffee is alleging that Keurig Green Mountain Inc engaged in anti-competitive measures, that makes Keurig maintain a monopoly and keep single-serve coffee prices high. 

 Club Coffee is seeking 600 million in damages based on Keurig for spreading lies .

 Club Coffee also said that Keurig made false statements to dissuade consumers from buying Club Coffee's products, saying they would damage Keurig Brewers. (Reuters) 

 We'll see what the future brings for Club Coffee, and if they're successful in their lawsuit.

 Source- Yahoo Financial 


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