USANA Health Sciences soars on SEC decision
USANA Health Sciences, Inc. (Nasdaq: USNA) shares are soaring after the Securities and Exchange Commission said it will not take action against the nutritional and personal-care products maker.
"USANA greatly appreciates the diligence of the SEC in completing its informal inquiry, and we are pleased to put this matter behind us," David A. Wentz, president of USANA, said in a statement. "We have always been confident about the integrity of our company and take pride in our direct selling business model.”
In March, the company said it was under investigation by the SEC due to fraud allegations and other questions over its business model. The Salt Lake City, Utah-based company still faces several lawsuits.
In morning trading, USNA shares are up 23.19%, or $8.25, at $43.82. Over the last 52 weeks, shares have ranged from $28.51 to $61.80.
