Hansen Natural Corporation - Securities Class Action

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Stanford Law School

Hansen Natural Corporation Summary: On October 16, 2007 the judge entered an order granting the defendants' motion to dismiss the complaint with prejudice, permanently closing the case. Plaintiffs did not file an appeal.

On February 23, 2007 the judge entered his order consolidating the cases and appointing Jason Peltiers as lead plaintiff in the case. On May 1, 2007 a corrected consolidated complaint was filed and defendants replied with a motion to dismiss on June 25, 2007.

According to a press release dated November 30, 2006, the Complaint alleges that throughout the Class Period, defendants issued numerous, positive press releases, statements and quarterly financial reports filed with the SEC that described the Company's financial performance. These statements were materially false and misleading because they failed to disclose and misrepresented the following adverse facts, among others: (a) that defendants engaged in the backdating of stock option grants for certain key executives of the Company; (b) that the Company lacked adequate internal controls and was therefore unable to ascertain its true financial condition; and (c) that as a result of the foregoing, defendants engaged in improper accounting practices.

On October 31, 2006, the Company filed a Form 8-K with the SEC indicating that it received a letter from the Staff of the Pacific Regional Office of the SEC requesting that the Company voluntarily produce certain documents and information relating to the its filing of SEC Forms 4 and the Company's stock option grant practices from January 1, 1996 to the present.

The complaint alleges that on November 9, 2006, the Company issued a press release announcing a delay in the filing of its quarterly report. The Company reported that "(i)n light of the investigation discussed above, the Company is not in a position to complete the preparation of the financial statements and certain related information required to be included in Form 10-Q for the quarter ended September 30, 2006. The Company intends to file Form 10-Q as soon as practicable after the completion of the investigation by the Special Committee."

Following this news, shares of the Company's common stock fell substantially on unusually heavy trading volume.

The complaint further alleges that as a result of the dissemination of the false and misleading statements set forth above, the market price of Hansen common stock was artificially inflated during the Class Period. In ignorance of the false and misleading nature of the statements described above, and the deceptive and manipulative devices and contrivances employed by said defendants, plaintiffs and the other members of the Class relied, to their detriment, on the integrity of the market price of Hansen common stock. Had plaintiffs and the other members of the Class known the truth, they would not have purchased said common stock, or would not have purchased them at the inflated prices that were paid.

INDUSTRY CLASSIFICATION:
SIC Code: 2086
Sector: Consumer Non-Cyclical
Industry: Beverages (Non-Alcoholic)

COMPANY/ISSUER NAME:	Hansen Natural Corporation
COMPANY/ISSUER TICKER:	HANS
COMPANY WEBSITE:	http://www.hansens.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Glenn D. Hutton, et al. v. Hansen Natural Corporation, et al.

COURT: C.D. California	DOCKET NUMBER: 06-CV-7599
JUDGE NAME:
DATE FILED: 11/29/2006	SOURCE: Notice of Filing
CLASS PERIOD START: 11/12/2001	CLASS PERIOD END: 11/9/2006
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Binkow & Goldberg LLP (Los Angeles) 1801 Ave. of the Stars, Suite 311, Los Angeles, CA, 90067 (voice) (310) 201-915, (fax) (310) 201-916, info@glancylaw.com Law Offices of Marc S. Henzel 273 Montgomery Ave. Suite 202, Bala Cynwyd, PA, 19004 (voice) 610.660.8000, (fax) 610.660.8080, securitiesfraud@comcast.net Scott & Scott LLC P.O. Box 192, 108 Norwich Avenue, Colchester, CT, 06415 (voice) 860.537.5537, (fax) 860.537.4432, scottlaw@scott-scott.com Wolf Haldenstein Adler Freeman & Herz LLP (New York) 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of the Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 11/29/2006
Declaration Of Seth A. Safier In Support Of Thomas L. Olk’s Notice Of Motion And Motion Of For Appointment As Lead Plaintiff, And Approval Of Selection Of Lead Counsel; Memorandum Of Points And Authorities In Support Of Plaintiff’s Motion Of For Appointment As Lead Plaintiff, And Approval Of Selection Of Lead Counsel
Type: Declaration		Date on the document: 01/29/2007
[Proposed] Order Granting Thomas L. Olk’s Motion Of For Appointment As Lead Plaintiff, And Approval OfSelection Of Lead Counsel
Type: Order		Date on the document: 01/29/2007
Thomas L. Olk’s Notice Of Motion And Motion Of For Appointment As Lead Plaintiff, And Approval Of Selection Of Lead Counsel And Memorandum Of Points And Authorities In Support Of Motion And Motion Of For Appointment As Lead Plaintiff, And Approval Of Selection Of Lead Counsel
Type: Motion		Date on the document: 01/29/2007

REFERENCE COMPLAINT

Glenn D Hutton, et al. v. Hansen Natural Corporation, et al.

COURT: C.D. California	DOCKET NUMBER: 06-CV-7599
JUDGE NAME: Hon. John F. Walter
DATE FILED: 5/1/2007	SOURCE: Docket
CLASS PERIOD START: 11/12/2001	CLASS PERIOD END: 11/9/2006
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Wolf Haldenstein Adler Freeman & Herz LLP (San Diego) Symphony Towers; 750 B Street, Suite 2770, San Diego, CA, 92101 (voice) 619.239.4599, (fax) 19.239.4599, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Judgment
Type: Order		Date on the document: 10/16/2007
U.S. District Court Civil Docket
Type: Docket		Date on the document: 10/22/2007

OTHER DOCUMENTS
Class Action Complaint for Violation of Federal Securities Laws - Jury Trial Demanded
Case Name and/or Number: Denise Williams, et al. v. Hansen Natural Corporation, et al.
Type: Complaint		Date on the document: 12/12/2006
Class Action Complaint for Violations of the Federal Securities Laws - Jury Trial Demanded
Case Name and/or Number: Ziolkowski, et al. v. Hansen Natural Corporation, et al.
Type: Complaint		Date on the document: 12/18/2006

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