Usana Health Sciences Says It Is Clear in SEC Probe
Usana Health Sciences Inc. said on Friday that it has received a letter from the Salt Lake City regional offices of the Securities and Exchange Commission, which announced that a formal inquiry of the company’s marketing activities has been completed, with a recommendation that no enforcement action be taken.
“We have always been confident about the integrity of our company,” said in a statement David A. Wentz, president of Usana.
The investigation concerned the firm’s multi-level marketing activities for selling dietary supplements through distributors. Usana disclosed in March 2007 that the SEC was investigating its activities.
Usana is the subject of a separate inquiry by the Chinese government that’s under way concerning Web sites and Chinese nationals associated with multi-level marketing activities all over the world. (Direct Newsline, Jan. 7, 2008).
