On August 15, 2016, post-market Hain said it would be delaying its fourth quarter and fiscal year 2016 financial results, "[d]uring the fourth quarter, the Company identified concessions that were granted to certain distributors in the United States. The Company is currently evaluating whether the revenue associated with those concessions was accounted for in the correct period and is also currently evaluating its internal control over financial reporting. The Audit Committee of the Company's Board of Directors is conducting an independent review of these matters and has retained independent counsel to assist in that review." Hain also said that it does not anticipate reaching its previously announced guidance for fiscal year 2016. Following this news, Hain stock dropped as much as $15.90, or roughly 29%, to $39.45 during after-hours trading on August 15, 2016.
If you purchased Hain shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/hain. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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