SAN DIEGO, Sept. 20, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New York on behalf of certain purchasers of shares of Hain Celestial Group Inc (NASDAQ:HAIN) over alleged Securities Laws Violations by Hain Celestial Group Inc. The lawsuit seeks to recover damages for certain NASDAQ:HAIN investors.
Investors who purchased shares of Hain Celestial Group Inc (NASDAQ:HAIN) have certain options and for certain investors there 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 that the defendants made certain 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.
Those who purchased Hain Celestial Group Inc (NASDAQ:HAIN) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.