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HANS Hansen Natural Corp. (MM)

95.38
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hansen Natural Corp. (MM) NASDAQ:HANS NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 95.38 0 01:00:00

Dreier LLP Announces Class Action Lawsuit Against Hansen Natural Corp. (HANS)

22/09/2008 2:00pm

PR Newswire (US)


Hansen Natural (NASDAQ:HANS)
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NEW YORK, Sept. 22 /PRNewswire/ -- Dreier LLP (http://www.dreierllp.com/) announces that a class action lawsuit was commenced in the U.S. District Court for the Northern District of California on behalf of all purchasers of the common stock of Hansen Natural Corp. (NASDAQ:HANS) ("Hansen" or the "Company") from May 23, 2007 through November 8, 2007, inclusive (the "Class Period"). The complaint charges Hansen and certain of its officers and directors with violations of the Securities Exchange Act of 1934. As a result of defendants' false statements and omissions during the Class Period, Hansen common stock traded at artificially inflated prices. If you purchased Hansen common stock during the Class Period, you may be a member of the proposed Class. You must move the Court on or before November 10, 2008 if you wish to serve as a lead plaintiff. Lead plaintiffs must meet certain legal requirements. If you have acquired Hansen common stock and want to discuss your legal rights, you may contact Bruce D. Bernstein () of Dreier LLP at 800-952-8897. Class members may retain counsel of their choice and move the Court to serve as a lead plaintiff, or may choose to do nothing and remain absent class members. Hansen, through its subsidiaries, engages in the development, marketing, sale, and distribution of beverages in the United States and Canada. The Complaint alleges that, during the Class Period, defendants made materially false and misleading statements regarding Hansen's beverage sales and financial results. Among other things, the Complaint alleges that defendants misrepresented and concealed that: (i) Hansen's second quarter 2007 sales results were materially impacted by inventory loading as customers were induced to purchase more product before the Company raised its prices for two of its beverage lines: (ii) Hansen was experiencing a decline in sales of its non-core drink lines; (iii) the Company's Java Monster drink line was experiencing production shortfalls; and (iv) as a result of the foregoing, defendants did not have a reasonable basis for their positive statements concerning the Company's business prospects. On November 8, 2007, Hansen reported lower than expected revenue growth and decreasing profit margins in a press release announcing the Company's financial results for the third quarter 2007. On that day, following defendants' revelations, Hansen common stock fell $13.17 per share, to close at $43.50 per share on heavy trading volume. Dreier LLP's Class Action Litigation Group has vast experience representing domestic and foreign institutional and individual investors in securities and other class actions throughout the country. The partners who head Dreier LLP's Class Action Litigation Group have successfully prosecuted securities fraud class actions in a wide variety of industries and have played a significant role in cases that have resulted in some of the largest securities class action settlements. Prior results do not guarantee a similar outcome. As of the date of this Notice, Dreier LLP has not filed a complaint against Hansen. Background on Dreier LLP Dreier LLP was founded in 1996 by Marc Dreier as a more responsive and innovative alternative to traditional "large-firm" lawyering. Dreier LLP represents a wide range of institutional, entrepreneurial and individual clients in diverse sectors of financial, industrial and service-oriented markets. The firm's principal practices are commercial litigation, class action litigation, real estate, bankruptcy and corporate reorganization, labor and employment law, corporate and securities, entertainment and sports law, intellectual property, matrimonial and tax. Dreier LLP's Los Angeles affiliate, Dreier Stein Kahan Browne Woods George LLP, has its principal practice in entertainment and commercial litigation and corporate transactions. The firm's New York affiliate Schlesinger Gannon & Lazetera LLP has an extensive practice in trusts and estates law. Pitta & Dreier LLP is an affiliate which specializes in labor law, and Pitta, Bishop, Del Giorno & Dreier LLP specializes in government relations. Dreier Sports Opportunities offers athletes and organizations comprehensive business and life management services. Berry Block & Bernstein LLC is an affiliate specializing in building human capital of companies through diversity, corporate social responsibility and leadership training. In the 12 years since its founding, Dreier LLP, with its affiliate members, has grown to more than 225 attorneys, with its principal office at 499 Park Avenue in Manhattan, and additional offices in Los Angeles and Santa Monica, CA; Albany, NY; Stamford, CT; and Pittsburgh, PA. Attorney advertising DATASOURCE: Dreier LLP CONTACT: Bruce D. Bernstein, Esq. of Dreier LLP, +1-800-952-8897, Web site: http://www.dreierllp.com/

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