Coca-Cola Allowed To Continue To Sell Energy Drink Under Monster Contract
02-Jul-2019
- USA
Coca-Cola Co (KO) said the American Arbitration Association ruled that the company can continue to sell its energy drink without affecting the terms of the contract with Monster Beverage Corp. (MNST).
Since there was a disagreement between the companies over "contractual language," Coca-Cola and Monster had submitted their dispute to arbitration before the American Arbitration Association in October 2018.
On June 28 this year, the arbitrators ruled, "Coca-Cola Energy products fall within an exception to a non-compete provision relating to beverages marketed or positioned under the Coca-Cola brand."
KO is currently trading at $51.09, up $0.17 or 0.33 percent. But, MNST is trading at $63.55, down $0.28 or 0.44 percent. (dpa)
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