LOS ANGELES, Oct. 30, 2026 (GLOBE NEWSWIRE) -- The United States District Court for the Eastern District of New York granted final approval of a $35,000,000 cash settlement resolving securities fraud claims on behalf of investors who purchased or otherwise acquired The Hain Celestial Group, Inc. (NASDAQ: HAIN) common stock and exchange-traded options on that stock. The Honorable Lee G. Dunst, United States Magistrate Judge, signed the Final Judgment approving the settlement on October 28, 2026, following a settlement hearing held that day.
Glancy Prongay Wolke & Rotter LLP served as Co-Lead Counsel for the Settlement Class with Labaton Keller Sucharow LLP. The action was brought on behalf of Court-appointed Lead Plaintiffs Rosewood Funeral Home and Salamon Gimpel. The Court received no objections to the settlement and no requests for exclusion from the Settlement Class.
The Settlement Class
The Court certified, for settlement purposes, a Settlement Class consisting of all persons and entities who or which purchased or otherwise acquired the publicly traded common stock of Hain, and exchange-traded call and put options on that stock, between November 5, 2013 and February 10, 2017, both dates inclusive, and were allegedly damaged thereby. Certain persons and entities are excluded from the Settlement Class by definition, including the defendants, Hain’s officers and directors during the class period, and their immediate families.
The Allegations
The litigation concerned allegedly false and misleading statements by Hain and four individual defendants: Irwin D. Simon, Pasquale Conte, John Carroll, and Stephen J. Smith. Plaintiffs alleged that Hain granted undisclosed concessions to its largest U.S. distributors to induce them to buy product ahead of their normal purchasing patterns, and that the Company prematurely recognized revenue on those sales, inflating its reported results. Plaintiffs asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 15, 2016, Hain announced that it would delay the release of its fiscal 2016 financial results and the filing of its annual report. The Company disclosed that it had identified concessions granted to certain U.S. distributors and that its Audit Committee was conducting an independent review of whether the related revenue had been recognized in the correct period. The United States Court of Appeals for the Second Circuit twice vacated the district court’s dismissal of the action, in December 2021 and September 2025, before the parties reached the settlement.
The settlement resolves all claims asserted against Hain and the individual defendants. Defendants have denied and continue to deny the allegations. The settlement is not an admission of liability by any defendant, and the Court’s judgment makes no finding of wrongdoing.
Claims Deadline
The deadline for Settlement Class Members to submit a claim form was October 13, 2026. The Notice, the Court’s judgment, and other information about the settlement are available at www.HainCelestialSecuritiesSettlement.com.
About Glancy Prongay Wolke & Rotter LLP
Glancy Prongay Wolke & Rotter LLP is a national law firm representing investors and consumers in complex litigation, with a practice concentrated in securities class actions and shareholder litigation. The firm is headquartered in Los Angeles.
Contact
Leanne Heine Solish, Esq.
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
(310) 201-9150
settlements@glancylaw.com
The case is In re The Hain Celestial Group Inc. Securities Litigation, Case No. 2:16-cv-04581-LGD.
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