US: Lawsuit filed against Hansen Natural
Lawyers in California have filed a class action lawsuit against beverage group Hansen Natural, accusing it of false financial statements.
Law firm Scott & Scott said this week that it had filed for action against Hansen, which produces the Monster energy drink.
It accused the drinks maker of issuing "materially false and misleading statements regarding the company's beverage sales and financial results", making particular reference to the group's second quarter results announcement in 2007.
As a result of the statements, Scott & Scott alleged, Hansen's share price was artificially inflated.
A spokesperson for Hansen was not immediately available for comment.
Sectors: Soft drinks
Hansen Natural has reported a net loss of US$23.4m for 2008, due to charges related to switching distribution of its Monster Energy drink to Coca-Cola Enterprises and The Coca-Cola Co....
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