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Hansen Natural Corporation Summary: According to a law firm press release, the complaint charges Hansen Natural and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Hansen Natural, through its subsidiaries, engages in the development, marketing, sale, and distribution of beverages in the United States and Canada.
According to the complaint, during the Class Period, defendants 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 the Company raised its prices in its Monster Energy drink line and its Java Monster drink line; (b) that the Company was experiencing declining sales in its non-core drink lines; (c) that the Company 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 the Company and its prospects.
On November 8, 2007, the Company issued a press release announcing its financial results for the third quarter of 2007, the period ended September 30, 2007. For the quarter, the Company reported lower than expected revenue growth and decreasing profit margins. Following this earnings announcement, shares of the Company's common stock fell $13.17 per share, or 23%, to close at $43.50 per share, on heavy trading volume.
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 | |||||||||||||||||
| Cunha, et al. v. Hansen Natural Corporation, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint For Violations Of Federal Securities Laws | |||
| Type: Complaint | Date on the document: 9/2/2008 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 9/18/2008 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| Marcelo Cunha, et al. v. Hansen Natural Corporation, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Complaint for Violations of Federal Securities Laws | |||
| Type: Complaint | Date on the document: 08/28/2009 | ||
| OTHER DOCUMENTS | |||
| Class Action Complaint For Violations Of Federal Securities Laws | |||
| Case Name and/or Number: Terry D. Brown, et al. v. Hansen Natural Corporation, et al. | |||
| Type: Complaint | Date on the document: 9/17/2008 | ||
| Summons | |||
| Case Name and/or Number: Terry D. Brown, et al. v. Hansen Natural Corporation, et al. | |||
| Type: Other | Date on the document: 9/17/2008 | ||
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