Reuters: Financial Services and Real Estate: UPDATE 1-Capital Research raises stake in Green Mountain

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Capital Research raises stake in Green Mountain Jun 8th 2012, 20:46 Fri Jun 8, 2012 4:46pm EDT June 8 (Reuters) - Capital Research Global Investors raised its passive stake in Green Mountain Coffee Roasters Inc to 10.6 percent of the company's shares, which have tumbled 80 percent since last September amid questions about its management and business strategy. According to a securities filing on Friday, the investment firm owned 16,523,557 shares of Green Mountain as of May 31, or 10.6 percent. In a February filing, it had reported a 7.3 percent stake. The company and its shares have come under scrutiny from hedge funds and other major investors on various concerns, including questions about accounting practices and the company's ability to compete. This week, investor Daniel Yu suggested it may be time for the coffee manufacturer's founder, Robert Stiller, to leave the board of the Vermont-based company. On May 8, Green Mountain stripped Stiller of his role as chairman of the board after it was revealed that he made stock sales in violation of the company's internal policy. Shares of Green Mountain have been cut nearly in half this year and currently trade around $25. They hit a 52-week high of $115.98 on Sept. 20, 2011. Green Mountain's stock fell 4.8 percent on Friday to close at $23.13. An official at Capital Research Group declined to comment on the firm's intention in raising its stake. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions