Bragar Eagel & Squire, P.C. is Investigating the Officers & Directors of Hain Celestial Group, Inc. (HAIN) on Behalf of Stock...
August 16 2016 - 5:30PM
Business Wire
Bragar Eagel & Squire, P.C. is investigating potential
claims on behalf of Hain Celestial Group, Inc. (NASDAQ: HAIN)
stockholders concerning whether the company’s officers and board of
directors violated the federal securities laws.
The investigation concerns Hain Celestial’s August 15, 2016
announcement that it would postpone the release of its fourth
quarter and fiscal year 2016 financial results. The company also
stated that it does not expect to achieve its previously announced
guidance for fiscal year 2016.
Hain Celestial revealed that “during the fourth quarter, the
Company identified concessions that were granted to certain
distributors in the United States. The Company is currently
evaluating whether the revenue associated with those concessions
was accounted for in the correct period and is also currently
evaluating its internal control over financial reporting. The Audit
Committee of the Company's Board of Directors is conducting an
independent review of these matters and has retained independent
counsel to assist in that review.”
Following this news, shares of Hain Celestial stock declined
over $15.00 per share, or almost 30%, opening at $37.85 on August
16, 2016.
If you acquired Hain Celestial securities or continue to hold
shares purchased, have information or would like to learn more
about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these
matters please contact J. Brandon Walker, Esq. by email at
investigations@bespc.com, or telephone at (212) 355-4648, or by
filling out this contact form. There is no cost or obligation to
you.
Bragar Eagel & Squire, P.C. is a New York-based law firm
concentrating in commercial and securities litigation. For
additional information, please go to www.bespc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160816006298/en/
Bragar Eagel & Squire, P.C.J. Brandon Walker, Esq.,
212-355-4648investigations@bespc.com
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