Shareholders Hit Drink Maker With Derivative Action

Law360, New York (November 14, 2006, 12:00 AM EST) -- A pair of shareholder derivative lawsuits has been filed against Hansen Natural Corp. and at least a dozen of its officers and directors for allegedly backdating option grants, the company disclosed Tuesday in a filing with the Securities and Exchange Commission.

The suits, which were filed a day apart in California Superior Court, accused the beverage maker of gross mismanagement, unjust enrichment, breach of fiduciary duties and abuse of control. They also charged the executives with causing substantial monetary damages as well as damages to the...
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