« Coordination Problems for Lobster Fishermen | Main | Canadian Class Action Law: A Flawed Model »

USANA Health Sciences Winners?

A heavily redacted page from the original lawsuit.

Image via Wikipedia

Barry Minkow has apparently given up pursuing USANA over its business model.

According to a press release:

"Barry Minkow and the Fraud Discovery Institute (FDI) today announced the settlement of their lawsuit pending in the United States District Court for the District of Utah.

USANA has agreed to withdraw its lawsuit and Mr. Minkow and the FDI have agreed that they will not trade in USANA's stock in the future, will remove information regarding USANA within their control from the internet, and will not publish any further statements about USANA.

All outstanding issues have now been resolved to the parties' satisfaction, and USANA and FDI look forward to putting this litigation behind them and moving forward with their respective missions.

Barry Minkow stated: "For us this was a business decision. Considering the size of the Fraud Discovery Institute, we had to make an allocation of resources and we decided that rather than continuing a lawsuit we would devote our efforts to our primary mission - the investigation and uncovering of fraud.

We look forward to continuing that mission with vigor."

Sure enough, at the FDI website there is no mention of the problems with USANA.

Does this reduce the credibility of Barry Minkow?  

Or do all such consumer fraud sites have to make this sort of decision?

Hard to see this as anything but the purchasing of silence - wonder what will happen in the Herbal Life case.


Related articles by Zemanta
Zemanta Pixie

Posted by michael webster on July 28, 2008 7:11 PM |

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

TrackBack

TrackBack URL for this entry:
http://www.bizop.ca/MT-4.21-en/mt-tb.cgi/1662

Ads

Recommended Reading

Ratings

ABA Advertising Law Blogs

Law Blogs - Blog Top Sites Featured in Alltop

Television Interviews

About the Law Office of Michael Webster

Business Opportunity Fraud The King Con Story: How Anyone can be Conned.

Affinity Fraud Fleecing the Flock

Franchise Fraud Taking Your Dough

Due Diligence Lessons The Single Biggest Mistake in Due Diligence: Using the BBB.

Recent Posts

Franchise Jobs

Sponsors

Investigative Interviews

About the Law Office of Michael Webster

Business Opportunity Fraud The King Con Story: How Anyone can be Conned.

Affinity Fraud Fleecing the Flock

Franchise Fraud Taking Your Dough

Due Diligence Lessons The Single Biggest Mistake in Due Diligence: Using the BBB.

Categories

How to Subscribe

Privacy Policy

Subscribing allows you to be updated with either email or RSS, automatically and without having to return to the site. You will never have concerns about privacy or spam.

Enter your email address:

Delivered by FeedBurner

feed.jpg

Search

Visit our Specialized Search page.