US: Hansen Natural sees lawsuit dismissed
A lawsuit against Hansen Natural, which claimed that the soft drinks company backdated stock options, has been dismissed.
The US firm said yesterday (23 October) that consolidated federal class-action suits against it have been dismissed. The US District Court for the Central District of California granted Hansen's motion to dismiss the complaint, finding that the complaint failed to adequately plead any violations of federal securities laws.
Hansen has had a lively time of late. In August, the US Securities and Exchange Commission closed its investigation into Hansen's historical stock option granting practices. In June, meanwhile, Hansen was told it could trade on the Nasdaq once more, having previously delayed filing financial reports.
In March, a special committee of Hansen directors completed over four months of investigations into the company's stock option practices and found "no willful or intentional misconduct".
- What's so special about Islay anyway? - Comment
- Six key trends for alcoholic drinks in 2016
- With MegaBrew sorted, is MegaBev next? - Research
- What do Bourbon and craft beer have in common?
- Ten things to know about spirits in the US
- Bacardi ups ante in US Havana Club row
- Alcohol industry warning over Kroger plan
- SABMiller hits back in UK corporation tax row
- The US is "the first place I look" - Diageo CEO
- Suntory bids for Lucozade, Ribena Nigerian network
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global Whiskey Market 2016-2020
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research