Hain Celestial has settled charges linked to a US regulatory probe into stock options – but the US organic food group will not have to pay a fine.
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The Rice Dream and Earth’s Best maker said yesterday (3 September) that it had reached agreement with the US Securities and Exchange Commission over the regulator’s 2007 probe into share options and accounting at the company.
Hain said the settlement does not name any individuals and the company would not be “admitting or denying” any of the findings in the settlement.
“The final judgment will not require the company to pay any civil monetary penalty,” the company added.
The probe into stock options practices at Hain was first launched two years ago. The company said it had co-operated with the inquiry and “implemented a number of remedial actions”.
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By GlobalDataHain restated certain financial data for the four fiscal years between 2003 and 2006 and incurred a non-cash charge of US$16.9m for the 12 years between 1994 and 2005.
