An investor in NASDAQ:HAIN shares filed a lawsuit over alleged violations of Federal Securities Laws by Hain Celestial Group Inc in connection with certain allegedly false and misleading statements made between November 5, 2015 and August 15, 2016.
Investors who purchased shares of Hain Celestial Group Inc (NASDAQ:HAIN) have certain options and for certain investors are short and strict deadlines running. Deadline: October 17, 2016. NASDAQ:HAIN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of Hain Celestial Group Inc (NASDAQ:HAIN) common shares between November 5, 2015 and August 15, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 5, 2015 and August 15, 2016 the defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Hain Celestial Group Inc lacked adequate controls over financial reporting, that consequently, Hain Celestial Group Inc failed to correctly account for revenue associated with concessions granted to certain distributors in the United States, and that as a result of the foregoing, Hain Celestial Group Inc’s public statements were materially false and misleading at all relevant times.
On August 15, 2016, Hain Celestial Group Inc announced that it would delay the release of its fourth quarter and fiscal year 2016 financial results because the Company was evaluating whether the revenue associated with concessions granted to certain distributors in the U.S. was accounted for in the correct period. Hain Celestial Group Inc also stated that it was evaluating its internal control over financial reporting. Shares of Hain Celestial Group Inc (NASDAQ:HAIN) declined to as low as $37.25 per share on August 16, 2016.
On August 29, 2016, NASDAQ:HAIN shares closed at $37.20 per share.
Those who purchased NASDAQ:HAIN shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com