Hansen Says Proposed Class Can't Show Market Efficiency

Law360, Los Angeles (June 20, 2013, 6:44 PM EDT) -- Hansen Natural Corp. urged a California federal judge on Thursday to deny certification of a proposed securities class action alleging it caused investor losses by making false financial statements, saying the plaintiffs had not shown that movements in Hansen's stock price were tied to misleading information.

Hansen's attorney Martin Perschetz of Schulte Roth & Zabel LLP argued that a class of investors in the natural soda and fruit juice manufacturer could not be certified because they could not satisfy the “market efficiency” test of securities law,...
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