Levi & Korsinsky, LLP notifies shareholders of commencement of a class action lawsuit in the USDC for the District of Utah on behalf of shareholders of USANA Health Sciences, Inc. (NYSE: USNA) who purchased shares between March 14, 2014 and February 7, 2017.
The complaint alleges that throughout the Class Period Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts, including that: (i) the Company’s BabyCare Ltd. subsidiary had engaged in improper reimbursement practices in China; (ii) these practices constituted violations of the Foreign Corrupt Practices Act; (iii) as such, the Company’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable; (iv) the foregoing conduct was likely to subject the Company to significant regulatory scrutiny; and (v) as a result of the foregoing, USANA’s public statements were materially false and misleading at all relevant times
On February 7, 2017, post-market, USANA disclosed that “[t]he 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.”
If you suffered a loss in USANA you have until April 14, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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