NEW YORK, Aug. 25, 2016 (GLOBE NEWSWIRE) -- Scott + Scott, Attorneys at Law, LLP, a global investor rights law firm, reminds investors that October 17, 2016 is the last day to file lead plaintiff papers in the securities lawsuit against The Hain Celestial Group, Inc. (“Hain” or the “Company”) (NASDAQ:HAIN). Hain investors are encouraged to contact Scott + Scott at (619) 517-1129 or email jpettigrew@scott-scott.com to discuss their legal rights.
Hain is a leading organic and natural products company with operations in North America, Europe and India. Hain’s ordinary shares trade on NASDAQ under the ticker symbol “HAIN.”
About the Lawsuit
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (1) Hain lacked effective internal control over financial reporting; (2) Hain failed to properly account for revenue associated with concessions that were granted to certain distributors in the United States; and (3) as a result, defendants’ statements about Hain’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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.
On this news, shares of Hain fell $14.05 per share or over 26% from its previous closing price to close at $39.35 per share on August 16, 2016.
What You Can Do
If you suffered a loss in Hain, 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. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact Joseph Pettigrew, Esq. by telephone at (619) 517-1129 or by email at jpettigrew@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott + Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California and Ohio. Please visit www.scott-scott.com for more information about the firm.