New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:59 EDTTEA, SBUXTeavana slides after short-seller says Starbucks may walk from deal
Specialty tea retailer Teavana (TEA), which has recently agreed to be acquired for $620M or $15.50 per share by Starbucks (SBUX), is sliding after a firm with a disclosed short position said the deal could be jeopardized by allegations of consumer fraud at Teavana. Glaucus Research Group claimed in a note to investors earlier today that independent laboratory tests it had commissioned indicated that Teavana's teas contain pesticides in amounts that exceed regulatory limits set by the U.S. and European Union. According to Glaucus, Teavana's marketing practices violate federal and state laws against deceptive marketing and the firm believes Starbucks is likely to walk away from the agreed upon deal once the "inevitable" lawsuits against Teavana begin. Glaucus disclosed in its note, "We are short sellers. We are biased...[But] just because we are biased does not mean that we are wrong." In mid-morning trading, shares of Teavana slid 53c, or 3.43%, to $14.90.
News For TEA;SBUX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 16, 2014
15:11 EDTSBUXStarbucks confirms plans to roll out mobile ordering in U.S. in 2015
Subscribe for More Information
08:06 EDTSBUXAlmunia says political pressure around Google case 'unprecented,' WSJ reports
Subscribe for More Information
October 15, 2014
07:55 EDTSBUXStarbucks checks refute bear case, says Bernstein
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use