Cases
USANA Health Sciences (NYSE: USNA)
Securities Class Action
Overview
Overview
- Date:
- 2/14/2017
- Company Name:
- USANA Health Sciences, Inc.
- Stock Symbol:
- USNA
- Class Period:
- FROM 3/14/2014 TO 2/7/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Utah
NEW YORK, February 14, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the District of Utah on behalf of all persons or entities who acquired USANA Health Sciences (NYSE: USNA) securities between March 14, 2014 and February 7, 2017 (the “Class Period”).
USANA Health Sciences, Inc. develops, manufactures, and sells science-based nutritional and personal care products to reduce the risk of chronic degenerative disease.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s BabyCare subsidiary had engaged in improper reimbursement practices in China; (ii) these practices constituted violations of the Foreign Corrupt Practices Act of 1977 (the “FCPA”); (iii) as such, the Company’s China revenues were in part the product of unlawful conduct and unsustainable; and (iv) the foregoing conduct, when it became known, was likely to subject the Company to significant regulatory scrutiny. As a result of the foregoing, USANA’s public statements were materially false and misleading throughout the Class Period.
On February 7, 2017, post-market, USANA disclosed that the Company is “voluntarily conducting an internal investigation of its China operations, BabyCare Ltd. The investigation focuses on compliance with the Foreign Corrupt Practices Act . . . and certain conduct and policies at BabyCare, including BabyCare’s expense reimbursement policies.”
Following this news, USANA shares declined $7.25 per share, or over 11.5%, on February 8, 2017 to close at $55.40.
If you purchased or otherwise acquired Vista Outdoor securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
USANA Health Sciences, Inc. develops, manufactures, and sells science-based nutritional and personal care products to reduce the risk of chronic degenerative disease.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s BabyCare subsidiary had engaged in improper reimbursement practices in China; (ii) these practices constituted violations of the Foreign Corrupt Practices Act of 1977 (the “FCPA”); (iii) as such, the Company’s China revenues were in part the product of unlawful conduct and unsustainable; and (iv) the foregoing conduct, when it became known, was likely to subject the Company to significant regulatory scrutiny. As a result of the foregoing, USANA’s public statements were materially false and misleading throughout the Class Period.
On February 7, 2017, post-market, USANA disclosed that the Company is “voluntarily conducting an internal investigation of its China operations, BabyCare Ltd. The investigation focuses on compliance with the Foreign Corrupt Practices Act . . . and certain conduct and policies at BabyCare, including BabyCare’s expense reimbursement policies.”
Following this news, USANA shares declined $7.25 per share, or over 11.5%, on February 8, 2017 to close at $55.40.
If you purchased or otherwise acquired Vista Outdoor securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.