Los Angeles, Sept 11 - Hain Celestial Group Inc said on Tuesday it would delay filing its annual report with the U.S. Securities and Exchange Commission pending a review of its stock options practices.
The maker of products including Celestial Seasonings tea, Terra chips and WestSoy soy milk said it expects to file the report, known as a 10-K, "in the near future."
Because of the delay, Hain expects to receive a notice of delisting from Nasdaq, but said the notice should be rescinded once it files its annual report.
In June, Hain said it had been informed by the SEC that the agency was conducting an informal inquiry into its historical stock options practices. Last month, Hain said a group of independent directors were also reviewing its options practices and procedures with the help of independent legal counsel and other experts.
The company has said the review is mostly complete, but is not yet in a position to file its annual report.
Hain, based in Melville, New York, is among dozens of companies whose stock options practices are being probed by federal authorities.