Molson Coors Brewing Co. Thursday said the U.S. Securities and Exchange Commission has asked for information regarding first-quarter results and for material related to the recent merger of Molson and Coors.
The company said in a filing it was cooperating with the SEC. An SEC spokesman was not immediately available to comment on the inquiry.
The company, whose brands include Coors Light and Molson Canadian, reported a surprise loss during its first quarter after the merger due to weak beer sales and charges from the deal. After releasing the disappointing results, the company had to restate its pro-forma results due to a mistake in accounting for part of its Brazilian business.
The company’s stock fell 18.5 percent to $63 on the New York Stock Exchange after releasing the quarterly results on April 28. The shares have fallen further, closing at $58.64 on Wednesday.
The brewer is facing multiple lawsuits claiming it misled investors about the state of the business in order to win shareholder approval for the merger. The firm said the suits have no merit.
