A settlement was reached in the lawsuit filed on behalf of certain investors in shares of Hansen Natural (NASDAQ: HANS) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on: November 12, 2014. NASDAQ: HANS investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2014 -- The Shareholders Foundation announces that a deadline is coming up on November 12, 2014 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Hansen Natural (NASDAQ: HANS) between November 9, 2006 and November 8, 2007.
Investors who purchased a significant amount of shares of Hansen Natural (NASDAQ: HANS) between November 9, 2006 and November 8, 2007, have certain options and you should contact the Shareholders Foundation by email at firstname.lastname@example.org or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Hansen Natural (NASDAQ: HANS) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/hansen-natural-nasdaq-hans-investor-securities-class-action-lawsuit-09112008
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is November 12, 2014. The class action administrator for this case is Gilardi & Co. LLC.
The lawsuit was originally filed in in the U.S. District Court for the Central District of California against Hansen Natural over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 23, 2007 and November 8, 2007. The complaint charges Hansen Natural and certain of its officers and directors with violations of the Securities Exchange Act of 1934. According to the complaint, during May 23, 2007 and November 8, 2007, Hansen Natural issued materially false and misleading statements that misrepresented and failed to disclose: (a) that Hansen Natural’s second quarter sales results were materially impacted by inventory loading as customers were induced to purchase more product before Hansen Natural raised its prices in its Monster Energy drink line and its Java Monster drink line; (b) that Hansen Natural was experiencing declining sales in its non-core drink lines; (c) that Hansen Natural was experiencing production shortfalls with its Java Monster drink line; and (d) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about Hansen Natural and its prospects.
On November 8, 2007, Hansen Natural issued a press release announcing its financial results for the third quarter of 2007, the period ended September 30, 2007. For the quarter, Hansen Natural reported lower than expected revenue growth and decreasing profit margins. Following this earnings announcement, shares of Hansen Natural’s common stock fell $13.17 per share, or 23%, to close at $43.50 per share, on heavy trading volume.
Hansen Natural, through its subsidiaries, engaged in the development, marketing, sale, and distribution of beverages in the United States and Canada.
On January 5, 2012, shareholders agreed to change the name of the company from Hansen Natural to Monster Beverage Corp.
Those who purchased shares of Hansen Natural (NASDAQ: HANS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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