Shares In MLM Company USANA Hit By Lawsuits

Shares of Usana Health Sciences Inc. dropped Friday after several law firms announced purported class action suits Thursday, alleging the maker of nutritional and skin care products violated federal securities law.

Usana shares fell $4.26, or 8.5 percent, to $46.13 in afternoon trading on the Nasdaq Stock Market at more than double their average volume. Over the past year, shares climbed from a low of $35.06 in July to reach a high of $61.80 in mid-February.

Dennis Waitley To Step Down From Board Of MLM Company USANA

“Dr. Denis Waitley has decided not to stand for reelection to the USANA board of directors. Dr. Waitley recently informed USANA that an error appeared in his biography listed in the Company’s proxy statement and that he did not in fact earn a masters degree in Organizational Development from the Naval Post Graduate School in Monterey, California. Dr. Waitley did confirm that he earned a Bachelor of Science degree from the United States Naval Academy in Annapolis, Maryland, and a Ph.D. in Human Behavior from La Jolla University. Dr. Waitley’s board term will end on April 17, 2007, at which time he will retire as a director of the Company.

"The board of directors has regretfully acknowledged Denis Waitley’s decision to retire from the board and acknowledges his contributions to USANA during his tenure as a director.”

Comment: The "Fraud Detection Institute" campaign against MLM company USANA claims a high profile victim.

More Allegations Against MLM Company USANA

The "Fraud Discovery Institute" steps up it's campaign against MLM company USANA Health Sciences with allegations against Director Dennis Waitley and criticism of company products.

Editor's Note: The link is to a press release from the FDI. Reading it, the impression one gets is of the FDI looking to create some controversy around this story. The allegations against Dennis Waitley look pretty flimsy and the criticism of the products looks ill-informed.

More Class Action Headaches For MLM Company USANA

The "ambulance chasers" are coming out of the woodwork with another class action suit being lodged against MLM company USANA Health Sciences. This time by Brower Piven. Another law firm, Milberg Weiss, has announced it is investigating launching a similar suit.

Bid Too Low For MLM Company Herbalife

MLM company Herbalife Ltd., a company that sells weight-loss and nutritional supplements, on Thursday said a special committee of its directors found that Whitney V L.P.'s acquisition offer of $38.00 per share was too low, but remains open to a higher bid from Whitney.

Whitney already owns a large stake in Herbalife and is looking to acquire the rest of the company.

MLM Company Amway India Appoints New PR Firm

Amway India Enterprises, the direct selling FMCG company has announced the appointment of Hanmer & Partners, to partner the company in its national communication objectives.

MLM Company Herbalife To Be LA Galaxy Jersey Sponsor

On Friday, Herbalife and Galaxy owner AEG extended Herbalife's sponsorship deal with the Galaxy to include the jersey sponsorship. The Galaxy is the second MLS team to have a jersey sponsor after MLS' Real Salt Lake signed with XanGo.

MLM Company Herbalife Awards $30m In Distributor Bonuses

Over 3,000 Herbalife independent distributors gathered for the 2006 Mark Hughes Bonus Awards where Herbalife distributed $30 million in year-end bonuses, the largest pool ever, to its top achievers tonight at the Gibson Amphitheatre at Universal CityWalk. Five of the bonuses were over $1 million, with a top bonus of $1.8 million.

MLM Company USANA Hit With Class Action Suit

MLM company USANA continues to suffer fallout from the report issued recently by the "Fraud Detection Institute". Dreier LLP has launched a class action suit against the company alleging violations of securities laws.

MLM Company Herbalife Obtains Licence In China

International dietary supplements marketer Herbalife said it has received its direct-selling license from China's Ministry of Commerce, following a period when the government prohibited direct sales companies.

Soccer Sponsorship And MLM Companies

Article about sponsorship of North American soccer teams. Mentions the involvement of MLM companies Herbalife and XanGo.

Former Distributors For MLM Company Amway Lose Suit Against Procter & Gamble

Procter & Gamble Co. has won a jury award of $19.25 million in a civil lawsuit filed against four former Amway distributors accused of spreading false rumors linking the company to Satanism to advance their own business.

Comment: This was one of those stories that acquired "urban myth" status back in the 80's and 90's. Apparently, the distributors were responsible for propagating the rumor about P&G (presumably to boost sales of their own Amway products).

Further Scrutiny For MLM Company USANA

The recent attention generated by the FDI report on USANA has led a number of other analysts to take a closer look at MLM company USANA. USANA is publicly listed on NASDAQ and the share price has increased dramatically in recent years. Hence interest in the company is only natural.

This article is well worth a read. It's somewhat crtical of the company but it's quite comprehensive and even-handed in it's comments.

SEC Probe Hits MLM Company USANA

Shares in MLM company USANA continued to fall on Tuesday after the SEC launched an informal inquiry into the company.

This follows a highly critical report issued by the "Fraud Detection Institute". USANA has hit back with a law suit against the FDI and its director Barry Minkow.

FDI Responds To Lawsuit From MLM Company USANA

In a rebuttal to the Usana Health Sciences, Inc. lawsuit in federal court, filed on March 15, 2007, the Fraud Discovery Institute, Inc. (FDI) has posted a ten-point response on its website (http://www.frauddiscovery.net/) to further bolster and corroborate the allegations made in FDI's original report to authorities, dated February 20, 2007.

More On The USANA - FDI Storm

Reply from FDI's Barry Minkow to the defamation suit launched by MLM company USANA.

Suzanne Somers Launches New Direct Sales Company

Suzanne Somers, the blonde bombshell best known as the air-headed Chrissy on ``Three's Company'' -- and for hawking ThighMasters -- has launched a new home-based sales business headquartered in Grand Rapids with the help of former Amway executives.

MLM Newsletter - Latest "MarketWave Alert" #71

Latest issue from MLM expert Len Clements' "MarketWave Alert" deals in depth with the recent storm surrounding MLM company USANA Health Sciences.

USANA is the target of a highly critical report from the "Fraud Discovery Institute". USANA has rejected the claims in the report and launched a defamation suit against the FDI.

The newsletter covers the story in some detail. Well worth a read.

MLM Company USANA Shares Hit After Adverse Report

Shares in MLM company USANA slumped almost 15 % on Thursday as a report issued by the Fraud Discovery Institute ("FDI") alleged potential fraud by the company.

USANA strongly denied the claims and has launched a defamation suit against the FDI and its Director Barry Minkow.

MLM Company Herbalife Appoints Venezuela MD

MLM company Herbalife Ltd., a global nutrition direct-selling company, announced the appointment of Vanna Lara as managing director of Venezuela, responsible for overall operations and the development and leadership of staff and independent distributors. She will report to Tom Harms, vice president, South America.

MLM In China - Avon Sales Jump 28%

MLM company Avon saw a 28% jump in sales in China after restructuring operations.

MLM In Bangladesh

Interesting article about an MLM company "D2K-Destiny 2000 Ltd" in Bangladesh. The article is called "Promoting Business Through Multi-Level Marketing". The english translation leaves a little to be desired but worth a read.