NEW YORK, Jan. 6, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of USANA Health Sciences, Inc. (NYSE : USNA ) ("USANA Health " or the "Company"). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether USANA Health and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On July 23, 2013, USANA Health announced that the Securities and Exchange Commission (SEC), is conducting an investigation of the Company, which appears to involve possible issues regarding trading in USANA Health's stock during 2012 by certain of the Company's officers and directors including the Company's Chairman. On this news, the shares of USANA Health fell $6.56, or 8.14% percent, to $73.99 on July 24, 2013.
Thereafter, On January 3, 2014, the Federal Trade Commission (FTC) announced it will hold a press conference on Tuesday, January 7, 2013 to announce an initiative against "deceptive adverting of weight-loss products," without naming the products or manufacturers. The FTC announcement included the sub-title "From Food Additives to Skin Cream to Dietary Supplements, FTC Cracks Down." On this news, shares of USANA Health fell $1.67, or 2.17% percent, to $75.27 on January 3, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP