Mannatech fires auditors Grant Thornton

Posted on October 18th, 2007

Mannatech Inc. fired its auditors, Grant Thornton, after refusing to comply with GT’s demand that Sam Caster be removed from all duties. Caster is the founder of Mannatech and the current chairman of the board. He resigned as CEO two months ago after Texas started legal proceedings against the company for making illegal health claims about their products.The Board says it didn’t remove Caster from his duties because it wasn’t “in the best interest of shareholders.” Mannatech’s SEC filing regarding the firing of the auditors said that there were no disagreements about accounting principles, audit scope, or financial disclosures.

The new auditors for Mannatech will be BDO Seidman.

Related posts:

  1. Mannatech CEO quits to devote more time to Mannatech
  2. Mannatech receives Wells Notice from SEC
  3. Texas Attorney General finally goes after Mannatech
  4. Mannatach under scrutiny for health-related claims
  5. Legal inaction against Mannatech?

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