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Case Status:    ONGOING    
On or around 03/16/2020 (Date of last review)

Filing Date: August 17, 2016

According to the law firm press release, Hain manufactures, markets, distributes, and sells organic and natural products in the United States, the United Kingdom, Canada, and Europe. The Company sells its products through specialty and natural food distributors, supermarkets, natural food stores, mass-market and e-commerce retailers, food service channels and club, and drug and convenience stores in approximately 70 countries worldwide.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company lacked adequate controls over financial reporting; (ii) consequently, the Company failed to correctly account for revenue associated with concessions granted to certain distributors in the United States; and (iii) as a result of the foregoing, Hain’s public statements were materially false and misleading at all relevant times.

On August 15, 2016, after the market closed, Hain announced that it would delay the release of its fourth quarter and fiscal year 2016 financial results. Additionally, Hain announced that it did not expect to achieve its previously announced guidance for fiscal year 2016.

On this news, Hain’s share price fell $14.05, or 26.31%, to close at $39.35 on August 16, 2016.

On June 5, 2017, the Court appointed Lead Plaintiffs and Counsel. An amended Complaint was filed on September 7, 2017. Defendants filed a Motion to Dismiss the amended Complaint on October 3. On March 29, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiffs were given leave to amend the Complaint. On May 6, Lead Plaintiffs filed a second amended consolidated Complaint.


Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States


Ticker Symbol: HAIN
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: E.D. New York
DOCKET #: 16-CV-04581
JUDGE: Hon. Leonard D. Wexler
DATE FILED: 08/17/2016
CLASS PERIOD END: 08/15/2016
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
  2. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: E.D. New York
DOCKET #: 16-CV-04581
JUDGE: Hon. Leonard D. Wexler
DATE FILED: 05/06/2019
CLASS PERIOD END: 02/10/2017
  1. Glancy Prongay & Murray LLP (New York)
    122 East 42nd Street, Suite 2920 , Glancy Prongay & Murray LLP (New York), NY 10168
    (212) 682-5340 (212) 884-0988 ·
  2. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 ·
No Document Title Filing Date
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