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IRVINE, Calif., March 31, 2017 -- Khang & Khang LLP (the “Firm”) announces a class action lawsuit against USANA Health Sciences, Inc. (“USANA” or the “Company”) (NYSE:USNA). Investors who purchased or otherwise acquired shares between March 14, 2014 and February 7, 2017 inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the April 14, 2017 lead plaintiff motion deadline.
If you purchased shares of USANA during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, USANA made materially false and/or misleading statements and/or failed to disclose that: the Company’s BabyCare Ltd. subsidiary engaged in improper reimbursement practices in China; that these practices constituted violations of the Foreign Corrupt Practices Act; that the Company’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable; that the foregoing conduct was likely to subject the Company to significant regulatory scrutiny; and that as a result of the above, USANA’s public statements were materially false and misleading at all relevant times. On February 7, 2017, USANA announced 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.” When this news was announced to the public, shares of USANA declined in value.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contacts Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
