Cornucopia’s Take: Many large, primarily conventional corporations have bought organic brands, and Hain Celestial is no exception. Consumers committed to supporting independent brands with a true commitment to organic values can use Cornucopia’s scorecards to help make choices at the market.
Organic food giant under SEC investigation
Sustainable Food News
Hain Celestial’s stock drops to lowest level since June 2013 after agency subpoenas documents
Shares of the Hain Celestial Group, Inc. plunged more than 15 percent to a new low Monday morning after the organic and natural food giant manufacturer said the Securities and Exchange Commission (SEC) has placed it under investigation and subpoenaed it for documents related to its previously reported accounting errors.
The Lake Success, N.Y.-based company (NASDAQ: HAIN), which owns the Earth’s Best organic baby food and BluePrint cold-pressed juice brands, among others, said in a securities filing late Friday that it “is in the process of responding to the SEC’s requests for information and intends to cooperate fully” with the agency’s investigation. Read Full Article »