SEC Whacks Hain Celestial for Backdating

CENTRAL ISLIP, N.Y. (CN) - The Hain Celestial Group concealed millions of dollars in expenses from shareholders by fraudulently backdating stock options for its executives, directors and employees, the SEC claims in Federal Court. Hain makes "natural and organic products."

The SEC says Hain, based in Melville, N.Y., had to restate its earnings in 2008 to account for "$20.5 million of compensation expense," $13.2 million of which was made from 1998 to 2002.

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