Source: chron 1/12/2008
USANA Shares Jump on SEC Inquiry Closure
Shares jumped $13.91, or 39.1 percent, to $49.48 Friday.
In addition to closing its inquiry, Usana said the SEC didn't take any action against the company. The investigation began after a San Diego-based investigator, Barry Minkow, accused Usana of fraud and said its direct-marketing business model was a pyramid scheme.
Goldman Sachs analyst Simeon Gutman said the closure of the SEC inquiry "should further put to rest any remaining concerns about the integrity of Usana's business model."
Usana sells its products to a network of at-home distributors who recruit new employees into the network and then receive commissions on the recruits' purchases.
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