The SEC probe, begun in March, was sparked by comments made by trader Barry Minkow in the Wall Street Journal's "Heard on the Street" column. The newspaper cited Minkow, who served several years in prison for stock fraud in the 1990s, as saying the company's sales model required the constant recruitment of new distributors and that the pool would eventually dry up.
Usana Health Sciences Inc., a Salt Lake City-based multi-level marketing company targeted last year in a Securities and Exchange Commission probe, said it won't face further action because the U.S. watchdog agency found nothing incriminating.
Usana received notification from the SEC than its informal inquiry is complete and that no "enforcement action" is being recommended, the company said in a statement.
