Gainey McKenna & Egleston Announces A Class Action

NEW YORK, Feb. 14, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against USANA Health Sciences, Inc. (“USANA” or the “Company”) (NYSE: USNA ) in the United States District Court for the District of Utah on behalf of persons or entities who purchased USANA stock on the open market from March 14, 2014 through February 7, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) USANA’s BabyCare subsidiary had engaged in improper reimbursement practices in China; (2) these practices constituted violations of the Foreign Corrupt Practices Act; (3) as such, USANA’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable; (4) the foregoing conduct, when it became known, was likely to subject USANA to significant regulatory scrutiny; and (5) as a result, USANA’s public statements were materially false and misleading at all relevant times.

If you wish to serve as lead plaintiff, you must move the Court no later than April 14, 2017 .  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .

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