Case Page

 

Case Status:    SETTLED
On or around 01/29/2015 (Date of order of final judgment)

Filing Date: September 11, 2008

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.

On July 13, 2009, the Court issued an order granting motion to consolidate; order appointing Structural Ironworkers as lead plaintiff and Coughlin, Stoia, Geller, Rudman & Robbins LLP as lead counsel.

On April 16, 2014, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on July 28. On January 29, 2015, the Court issued a Final Judgment and ordered this case dismissed with prejudice.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Beverages (Non-Alcoholic)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HANS
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 08-CV-01249
JUDGE: Hon. Stephen G. Larson
DATE FILED: 09/11/2008
CLASS PERIOD START: 05/23/2007
CLASS PERIOD END: 11/08/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (NY)
    200 Broadhollow Road, Suite 406, Coughlin Stoia Geller Rudman & Robbins LLP (NY), NY 11747
    631-367-7100 631-367-1173 · info@csgrr.com/
  2. Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    655 West Broadway, Suite 1900, Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 · info@csgrr.com/
  3. Dyer & Berens LLP (former)
    682 Grant Street, Dyer & Berens LLP (former), CO 80203-3507
    303.861.1764 303.861.1764 · contact@dyerberens.com
  4. Holzer Holzer & Fistel, LLC (former Atlanta)
    1117 Perimeter Center West, Suite E-107, Holzer Holzer & Fistel, LLC (former Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 08-CV-01249
JUDGE: Hon. Stephen G. Larson
DATE FILED: 08/28/2009
CLASS PERIOD START: 11/09/2006
CLASS PERIOD END: 11/08/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    655 West Broadway, Suite 1900, Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 · info@csgrr.com/
  2. Dyer & Berens LLP (former)
    682 Grant Street, Dyer & Berens LLP (former), CO 80203-3507
    303.861.1764 303.861.1764 · contact@dyerberens.com
  3. Holzer Holzer & Fistel, LLC (former Atlanta)
    1117 Perimeter Center West, Suite E-107, Holzer Holzer & Fistel, LLC (former Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
No Document Title Filing Date
No Document Title Filing Date