Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

A Member of the Law Professor Blogs Network

Friday, January 11, 2008

SEC Ends Investigation into Usana

The SEC closed its investigation into Usana Health Services without taking any action.  Usana sells vitamins, nutrition bars and skin-care products through a network of distributors who receive commissions on purchases for recruiting additional people to become distributors.  Former distributors have brought suit in California state court, accusing the company of fraud and operating a pyramid scheme.  Since the SEC started its investigation last March, Usana's shares have dropped 40% and are among the most bet-against by short-sellers.  The company's auditing firm also resigned this year.  WSJ, SEC Ends Investigation of Usana Without Acting, but Lawsuits Loom.

http://lawprofessors.typepad.com/securities/2008/01/sec-ends-invest.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00e54fd9d3ec8833

Listed below are links to weblogs that reference SEC Ends Investigation into Usana:

» Xanax. from Lethal dosage xanax.
What happens when you crush xanax xr. Xanax no prescription overnight delivery. Xanax. Xanax with 5-htp. Xanax effect. Side effects of xanax. [Read More]

Tracked on Sep 17, 2009 3:16:44 AM

» Generic adipex. from Difference between adipex.
Comments on adipex. No prescription adipex. Adipex without prescription. [Read More]

Tracked on Sep 21, 2009 8:51:31 AM

Comments

Post a comment