Search / 8 posts tagged USANA Fraud

We reported a few months ago about the barrage of claims against Herbalife regarding high lead content in several of their products. After a couple months with no word about it, Herbalife has announced that the claims made by the Fraud Discovery Institute. Something smells very fishy here.

Now that Barry Minkow has settle his dispute with USANA, its time for the former criminal, and founder of the The Fraud Discovery Institute to look for a new target. Unfortunately for Pre Paid Legal, they are it.

As we have reported in the past couple of months, there have been numerous actions taken against companies which proudly feature(d) the DSA logo and go through rigorous due diligence to become a member of the DSA - Direct Selling Association (Weekenders, NHT Global, Mannatech, Herbalife) .

We got word that USANA has settled their lawsuit with Barry Minkow and the Fraud Discovery Institute. In exchange for dropping the lawsuit against Minkow, both Minkow and the FDI agreed that they will no longer trade USANA stock (NASDAQ: USNA).

Shares of USANA have been a bit beaten up over this week after the news that the efforts to take the company private have been scrapped. USANA has been plague d the last few months with lawsuits and fighting between the company and the minority shareholders over low-ball bid offers.

Week in Review: Herbalife Legal Problems Continue, Weekenders Files For Bankruptcy, Stevie Awards Handed Out Steven | 06.20.08 | 0 Comments » This was an unusually active week in the MLM world given the surprising news of Weekenders going out of business and filing for bankruptcy without any notice to its Distributors.

In an article today about the Usana Health Sciences (NASDAQ:USNA) buyout offer by Myron Wentz (Gull Holdings), the following inaccurate statement was made: The Securities and Exchange Commission concluded during the first quarter USANA’s marketing model is not a pyramid scheme, but the stock has a short interest about 34 percent, meaning many investors are betting the stock will fall.

USANA Health Sciences, has been ordered to pay the attorney fees of Barry Minkow, of the Discovery Fraud Institute after a California District Court ruled that the Utah based company violated California’s anti SLAPP law. SLAPP which stands for Strategic Lawsuit Against Public Participation, aims to cut down and discourage lawsuits that usurp public tax dollars.