It’s always interesting to see what turns up in the Friday night dump — what companies try to bury in their SEC filings late on a Friday when they think nobody is looking — and this past Friday had plenty of interesting stuff.
For example, late Friday in their routine Q, Molson-Coors Brewing (TAP) disclosed two additional investigations into the company’s disappointing first quarter earnings announcement beyond the one by the SEC that was disclosed in June. According to Friday’s filing, both the New York Stock Exchange and the Ontario Securities Commission are also poking around and taking a closer look at events leading up to the April 28 earnings announcement. Molson-Coors stock fell around 20% after the earnings came out.
All three investigations may very well lead nowhere. But with three different regulatory authorities taking a peek, it certainly increases the odds against the company.