Oct 22, 2012 No Comments ›› Pat Dollard
Excerpted from ABC News: Shares of Monster Beverage Corp. (NASDAQ: MNST) fell over 14 percent after the Food and Drug Administration revealed it received reports that five people consumed the energy drink before their deaths in the past year.
Monster stock fell 14.23 percent by the close of regular trading on Monday to $45.73.
Incident reports submitted by doctors and companies revealed that the energy drink was cited in the deaths of five individuals, but they are not considered conclusive until fully investigated by the Food and Drug Administration, Bloomberg reported.
Last week, the family of teenager Anais Fournier of Maryland sued the energy drink company after she died after consuming two cans of the drink.
In December, Fournier, 14, had reportedly consumed two 24-oz. cans of Monster within 24 hours, about 480 milligrams of known caffeine or the equivalent of about a dozen cans of Coca-Cola, according to her family. They say she went into cardiac arrest while watching a movie at home.
According to the autopsy report and the death certificate, Fournier died from “cardiac arrhythmia due to caffeine toxicity complicating mitral valve regurgitation in the setting of Ehlers-Danlos syndrome.” Ehlers-Danlos is a genetic disorder.
Monster is second-highest seller of caffeinated energy drinks behind Red Bull, which had $1.6 billion and $2.9 billion in sales last year, according to research company SymphonyIRI.
Monster Energy provided a statement to ABC News, saying it was “saddened by the untimely passing” Fournier and “its sympathies go out to her family.”
“Over the past 16 years Monster has sold more than 8 billion energy drinks which have been safely consumed worldwide,” the statement read. “Monster does not believe that its beverages are in any way responsible for the death of Ms. Fournier. Monster is unaware of any fatality anywhere that has been caused by its drinks. The Fournier family has chosen to file a lawsuit, which Monster intends to vigorously defend and, in light of such pending litigation, Monster’s policy is to not comment further.”