Securities Exchange Commission and Diageo

Wall Street Journal: On July 23, 2015, The Wall Street Journal reported that the Securities and Exchange Commission is investigating whether Diageo has been shipping excess inventory to distributors in an effort to boost the liquor company results, according to Market Watch. On this news, shares of Diageo fell $4.75 per share, or more than 3.90%, to close at $114.91 on July 23, 2015. The investigation concerns whether Diageo and certain of its officers and/or directors have violated Sections 10 and 20 of the Securities Exchange Act of 1934. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. (news.financializer.com). As reported in the news.