NEW YORK, Sept. 17, 2008 (LAWFUEL) — On September 17, 2008,
Scott+Scott LLP filed a class action against Hansen Natural Corporation
(“Hansen Natural” or the “Company”) (NYSE:HANS) and certain officers
and directors in the U.S. District Court for the Central District of
California. The action is on behalf of those purchasing Hansen Natural
common stock during the period beginning May 23, 2007 and through
November 23, 2007, inclusive (the “Class Period”), for violations of
the Securities Exchange Act of 1934. The complaint alleges that
defendants made false and misleading statements and material omissions
regarding the Company’s business operations and that, as a result, the
price of the Company’s shares was inflated during the Class Period,
thereby harming investors.
If you purchased Hansen Natural common stock during the Class Period
and wish to serve as a lead plaintiff in the action, you must move the
Court no later than November 10, 2008. Any member of the investor class
may move the Court to serve as lead plaintiff through counsel of its
choice, or may choose to do nothing and remain an absent class member.
If you wish to discuss this action or have questions concerning this
notice or your rights, please contact Scott+Scott
(scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537 or visit the
Scott+Scott website, http://www.scott-scott.com) for more information.
There is no cost or fee to you.
According to the complaint, during the Class Period, Hansen Natural
issued materially false and misleading statements regarding the
Company’s beverage sales and financial results. Among other things,
Defendants concealed that the Company’s second quarter 2007 sales
results were materially impacted by inventory loading as Hansen
Natural’s customers were induced by the Company to purchase more
product before the Company raised its prices in certain beverage lines.
As a result of defendants’ false statements and omissions during the
Class Period, Hansen Natural common shares traded at artificially
inflated prices.
In November 2007, the Company stunned investors when it reported
surprising third quarter financial results. For the quarter, the
Company reported lower than expected revenue growth and decreasing
profit margins. In addition, Defendants revealed that the Company had
seen declining sales in its non-core drink lines. Following these
announcements, 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.
Scott+Scott has substantial experience prosecuting major securities,
antitrust and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals and
other entities worldwide.
