NEW YORK, Aug. 16, 2016 /PRNewswire/ -- Wolf Popper LLP is investigating potential claims on behalf of investors in The Hain Celestial Group, Inc. (NASDAQ: HAIN), resulting from Hain's disclosure that it will delay the release of its fourth quarter and fiscal year 2016 financial results after identifying concessions that were granted to certain distributors in the United States. Hain investors can contact Fei-Lu Qian at 877.370.7703 or [email protected] for more information.
On August 15, 2016, Hain disclosed that due to certain concessions, it is "evaluating whether the revenue associated with those concessions was accounted for in the correct period" and whether the revenue should have been recognized at the time the products were sold to the end customers, instead of at the time of shipment to such distributors.
On this disclosure, in pre-market trading on August 16, 2016, Hain common stock plummeted approximately $14.00 per share or approximately 27%.
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