Key Developments For Hansen Natural Corporation
Hansen Natural Corporation (HANS.O) (Nasdaq)
Dyer & Berens LLP Files Class Action Lawsuit On Behalf of Purchasers Of Hansen Natural Corporation Common Stock
Dyer & Berens LLP announced that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of Hansen Natural Corporation common stock during the period between May 23, 2007 and 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. The class action complaint alleges that the defendants issued false and misleading statements concerning Hansen's business, financial performance and prospects. According to the complaint, defendants improperly failed to disclose that: (i) Hansen was experiencing declining sales in its non-core drink lines; (ii) the Company was experiencing production shortfalls with its Java Monster drink line; and (iii) Hansen'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. Based on these alleged omissions, Hansen's common stock traded at artificially inflated levels throughout the Class Period, reaching as high as $68.11 per share on October 18, 2007. During this time, the individual defendants allegedly sold over 2.3 million shares of their personally-held Hansen common stock for gross proceeds in excess of $104.8 million.
Hansen Natural Corporation and The Coca-Cola System Announce Agreements For Distribution Of Monster Energy Drinks In Western Europe, Canada And Selected U.S. Territories
Hansen Natural Corporation, The Coca-Cola Company and Coca-Cola Enterprises, Inc. announced that they have completed agreements for distribution of the Monster Energy drinks line in six Western European countries, Canada and selected territories in the U.S. These agreements will complement Hansen's existing relationship with Anheuser-Busch (AB) and will not affect Hansen's agreement with AB for the on-premise channel nationwide. The agreements will take effect beginning in November 2008 in the United States and parts of Western Europe, and in early 2009 in Canada. As part of the agreement with TCCC, Hansen has the right to negotiate distribution agreements with additional Coca-Cola bottlers to service the TCCC territory not covered by CCE. Under the agreements, a significant portion of Monster Energy's current North American Direct Store Delivery (DSD) volume will be serviced by Coca-Cola bottlers, primarily CCE.
Holzer Holzer & Fistel, LLC Announces Filing Shareholder Class Action Against Hansen Natural Corporation
Holzer Holzer & Fistel, LLC announced that it has filed a shareholder class action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of Hansen Natural Corporation common stock during the period between May 23, 2007, and November 8, 2007. The complaint charges Hansen Natural and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges Hansen Natural issued false and misleading public statements and disclosures concerning the Company's financial condition, including the Company's failure to disclose that its second quarter sales results were artificially high, that the Company was experiencing decline sales for several of its products and that the Company was experiencing production shortfalls with its Java Monster drink line.
Dreier LLP Announces Class Action Lawsuit Against Hansen Natural Corporation
Dreier LLP announced that a 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 Corporation. 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.
Brower Piven Announces Class Action Lawsuit Against Hansen Natural Corporation
Brower Piven, A Professional Corporation announced that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Hansen Natural Corporation during the period between May 23, 2007 and November 8, 2007. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 10, 2008 and be selected by the Court.
