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Court Dismisses Lawsuit Against Hansen

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-10-24

NEW YORK (AP) -- Juice and beverage maker Hansen Natural Corp. said in a regulatory filing on Tuesday that a court dismissed consolidated federal class-action suits that alleged the company backdated stock options.

In a filing with the Securities and Exchange Commission, Hansen said the United States District Court for the Central District of California granted its motion to dismiss the complaint.

The Court found the complaint failed to adequately plead any violations of the federal securities laws, Hansen said.

The Securities and Exchange Commission closed its informal inquiry against the company related to its stock-option granting practices in August, without taking any action against, or related to, Hansen.

Hansen shares rose $2.47, or 4.1 percent, to $62.45 during afternoon trading. The stock has traded between $24.75 and $68.40 in the past 52 weeks.

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