NEW YORK, Sept. 22 /PRNewswire/ -- Dreier LLP (www.dreierllp.com)
announces that a class action lawsuit was commenced in the U.S. District Court
for the Northern District of California on behalf of all purchasers of the
common stock of Hansen Natural Corp. (Nasdaq: HANS) ('Hansen' or the
'Company') from May 23, 2007 through November 8, 2007, inclusive (the 'Class
Period'). The complaint charges Hansen and certain of its officers and
directors with violations of the Securities Exchange Act of 1934. As a result
of defendants' false statements and omissions during the Class Period, Hansen
common stock traded at artificially inflated prices.
If you purchased Hansen common stock during the Class Period, you may be a
member of the proposed Class. You must move the Court on or before November
10, 2008 if you wish to serve as a lead plaintiff. Lead plaintiffs must meet
certain legal requirements. If you have acquired Hansen common stock and want
to discuss your legal rights, you may contact Bruce D. Bernstein
(classlaw@dreierllp.com) of Dreier LLP at 800-952-8897. Class members may
retain counsel of their choice and move the Court to serve as a lead
plaintiff, or may choose to do nothing and remain absent class members.
Hansen, through its subsidiaries, engages in the development, marketing,
sale, and distribution of beverages in the United States and Canada. The
Complaint alleges that, during the Class Period, defendants made materially
false and misleading statements regarding Hansen's beverage sales and
financial results. Among other things, the Complaint alleges that defendants
misrepresented and concealed that: (i) Hansen's second quarter 2007 sales
results were materially impacted by inventory loading as customers were
induced to purchase more product before the Company raised its prices for two
of its beverage lines: (ii) Hansen was experiencing a decline in sales of its
non-core drink lines; (iii) the Company's Java Monster drink line was
experiencing production shortfalls; and (iv) as a result of the foregoing,
defendants did not have a reasonable basis for their positive statements
concerning the Company's business prospects.
On November 8, 2007, Hansen reported lower than expected revenue growth
and decreasing profit margins in a press release announcing the Company's
financial results for the third quarter 2007.
