NEW YORK, Feb. 21, 2017 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Utah on behalf of investors who purchased USANA Health Sciences, Inc. (NYSE:USNA) securities between March 14, 2014 and February 7, 2017.
Click here to learn about the case: http://www.wongesq.com/pslra/usana-health-sciences-inc. There is no cost or obligation to you.
According to the complaint, 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. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra/usana-health-sciences-inc.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.