| Company: | USANA Health Sciences Inc. |
| Ticker Symbol: | NASD: USNA |
| Class Period: | July 18, 2006 to March 14, 2007 |
| Date Filed: | Mar-26-07 |
| Lead Plaintiff Deadline: | May-25-07 |
| Court: | District, UT |
| Allegations: |
A class action lawsuit has been filed on behalf of purchasers of the common stock of USANA Health Sciences Inc. (USNA) in the United States District Court for the District of Utah. The complaint alleges violations of the federal securities laws, including Section 10B of the Securities Exchange Act of 1934.
The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. On March 15, 2007, the Fraud Discovery Institute issued a press release and The Wall Street Journal published an article concerning a three-year investigation by the Fraud Discovery Institute that had revealed that USANA's multi-level marketing system was an unsustainable pyramid scheme. In reaction to this news, the price of the company's stock declined $8.92 per share, or 15%, to close on March 15, 2007 at $49.85 per share, on unusually heavy trading volume. Plaintiff seeks to recover damages on behalf of all members of the proposed Class.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. On March 15, 2007, the Fraud Discovery Institute issued a press release and The Wall Street Journal published an article concerning a three-year investigation by the Fraud Discovery Institute that had revealed that USANA's multi-level marketing system was an unsustainable pyramid scheme. In reaction to this news, the price of the company's stock declined $8.92 per share, or 15%, to close on March 15, 2007 at $49.85 per share, on unusually heavy trading volume. Plaintiff seeks to recover damages on behalf of all members of the proposed Class.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
