Litigation

Law 101 for Usana-heads

By Tracy Coenen

An article in the Salt Lake Tribune about Barry Minkow’s huge court victory over Usana Health Sciences (NASDAQ:USNA) attributed the following statements to the company:

But Usana said the parts of the lawsuit it considers the most important remain. Those include its ability to identify and sue institutional investors, hedge funds and individual investors it says conspired with Minkow to profit from the company’s falling stock. It also can still seek an injunction prohibiting Minkow from providing false information that hurts the company.

Newsflash! Usana has had the “ability” to “identify” and “sue” these parties that they lists all along. Why haven’t they? Because there is no conspiracy, and Usana has no proof of wrongdoing on the part of anyone. We are almost year into the fight, and all that Usana has is a statement that they could sue people? (more…)

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Full post as published by The FRAUDfiles Blog on March 06, 2008 (boomark / email).