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Hansen tells of errors in options

May 15, 2007|From Bloomberg News

Hansen Natural Corp., the Corona-based maker of Monster Energy drinks, said unintentional accounting errors related to stock option grants over a 5 1/2 -year period led to a $1-million understatement in compensation costs.

The company said it found 12 improperly dated option grants, seven grants that were given at the opening price of Hansen's stock instead of the closing price, and two other grants that were wrongly accounted for.

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