USANA gains 9% on lawsuit settlement
USANA Health Sciences Inc. (Nasdaq:USNA) is up 9% today after the company said before the opening that it had settled its lawsuit with Barry Minkow and his Fraud Discovery Institute. USANA sued Minkow for alleged market manipulation and defamation. According to the Salt Lake City-based company’s statement, USANA has agreed to withdraw its suit. Minkow and his Fraud Discovery Institute will no longer trade the stock, will remove information about the company from the Internet and will not publish further statements about USANA, according to the settlement.
In today’s trading, shares of nutritional and personal-care product maker USANA are at $31.94 at 2:22 p.m. ET, up $2.59 from Friday’s close.
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