Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Eastern District of New York on behalf of shareholders of The Hain Celestial Group, Inc. (NASDAQ: HAIN) (“Hain”) who purchased shares between November 5, 2015 and August 15, 2016.
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and/or failed to disclose material adverse facts, including that: (1) Hain did not have sufficient controls over financial reporting; and (2) Hain failed to properly account for its revenue in connection with certain US distributors. On August 15, 2016, Hain announced that it would delay the release of its fourth quarter and fiscal year 2016 financial results because the Company was evaluating whether the revenue associated with concessions granted to certain distributors in the U.S. was accounted for in the correct period. Hain also stated that it was evaluating its internal control over financial reporting.
If you suffered a loss in Hain Celestial you have until October 17, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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