Dutch shareholders to seek compensation from D.E. Master Blenders after D.E. issues profit warning citing fraud, inventory and tax problems in Brazil
August 2, 2012
(Industry Intelligence Inc.)
– The Dutch Association of Shareholders (DAS) will be seeking compensation from coffee and tea company D.E. Master Blenders 1753 after D.E. issued a profit warning citing fraud, inventory and tax problems in Brazil, Reuters reported Aug. 2.
The announcement from D.E. comes just three weeks after listing on the Amsterdam stock market. The DAS said it would demand redress.
D.E. is the third-largest player in the global coffee market behind Kraft Foods Inc. and Nestle SA.
The primary source of this article is Reuters, London, England, on Aug. 2, 2012.