US: SEC chases Hansen Natural
Hansen Natural is being chased by the authorities for information regarding its past stock grants.
The Californian soft drinks producer said yesterday (31 October) that the Securities and Exchange Commission has asked for "certain documents and information relating to the company's filing of SEC Forms 4 and the company's stock option grant practices from January 1, 1996 to the present".
According to Dow Jones, the announcement follows a recent report by independent proxy advisory firm Glass Lewis & Co, which cited Hansen as an example of a company where grants to insiders were disclosed late, and the stock price rose materially from the purported grant date to the disclosure date.
Hansen has said that it will co-operate with the request and will provide all documents the SEC has requested.
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