Faruqi & Faruqi, LLP Launches An Investigation Against The Hain Celestial Group, Inc. (HAIN) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors In The Manner It Seeks Executive Compensation Approval
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of The Hain Celestial Group, Inc. (“Hain” or the “Company”) (NasdaqGS: HAIN) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of executive compensation and an amendment to the Company’s Incentive and Stock Award Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on October 5, 2012, the Board of Directors recommends that Hain’s shareholders vote to approve the amendment of the Company’s Amended and Restated 2002 Long Term Incentive and Stock Award Plan (the “2002 Plan”) to increase the maximum number of shares authorized for issuance under the 2002 Plan by 1,250,000 shares, to a total of 12,000,000 shares. The issuance of the additional shares could have a severe dilutive effect on the shares of Hain’s common stock.
If you own common stock in Hain and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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