NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Hain Celestial Group, Inc. (NASDAQ: HAIN) stockholders concerning whether the company’s officers and board of directors violated the federal securities laws.
The investigation concerns Hain Celestial’s August 15, 2016 announcement that it would postpone the release of its fourth quarter and fiscal year 2016 financial results. The company also stated that it does not expect to achieve its previously announced guidance for fiscal year 2016.
Hain Celestial revealed that “during the fourth quarter, the Company identified concessions that were granted to certain distributors in the United States. The Company is currently evaluating whether the revenue associated with those concessions was accounted for in the correct period and is also currently evaluating its internal control over financial reporting. The Audit Committee of the Company's Board of Directors is conducting an independent review of these matters and has retained independent counsel to assist in that review.”
Following this news, shares of Hain Celestial stock declined over $15.00 per share, or almost 30%, opening at $37.85 on August 16, 2016.
If you acquired Hain Celestial securities or continue to hold shares purchased, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact J. Brandon Walker, Esq. by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.