The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against USANA Health Sciences, Inc.
CONSHOHOCKEN, Pa.– Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the District of Utah, on behalf of persons who purchased or otherwise acquired publicly traded securities of USANA Health Sciences, Inc. (“USANA” or the “Company”) (NASDAQ:USNA – News) between July 18, 2006 and March 14, 2007, inclusive, (the “Class Period”). The lawsuit was filed against USANA and certain officers and directors (“Defendants”).
If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at [email protected] and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than May 25, 2007 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants issued a series of false and misleading statements regarding the Company’s financial results. More specifically, the complaint alleges that Defendants failed to disclose, among other things: (1) that the Company’s multi-level marketing strategy was operating as a pyramid scheme; (2) the bulk of the Company’s sold not to end customers, but to other associates; (3) that the Company was experiencing a high associate turnover rate.
If you bought USANA securities between July 18, 2006 and March 14, 2007, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 668-4130 to speak with an advisor.