On Friday, a federal court judge in Utah denied an attempt by convicted felon Barry Minkow and his for-profit company to evade an expedited discovery order that was originally issued on August 1, 2007. As a result of this ruling, Mr. Minkow will be required to respond to written discovery requests, submit requested documents and sit for a 4-hour deposition.
As part of this discovery process and under the penalty of perjury, Mr. Minkow will be asked to reveal a variety of undisclosed information related to his and his unidentified partners' alleged attempt to profit from deliberately driving down USANA's stock price. Specifically, he will be required to identify his financial backers as well as any and all financial institutions, short sellers or individuals with whom he has shared involvement on this matter.
USANA has filed a lawsuit against Mr. Minkow and his for-profit company in U.S. District Court, District of Utah, Central Division, alleging that he has engaged in a public relations campaign to intentionally and illegally manipulate the market for USANA's stock for the economic benefit of himself and his undisclosed associates. USANA is demanding judgment against Mr. Minkow and his undisclosed financial backers and associates including among other remedies, injunctive relief, restitution, damages and recovery of attorney fees and other costs related to defending against the defendants' conduct.
"We are pleased that the judge has recognized the merit of USANA's position that it is entitled to expedited discovery to learn the identity of Mr. Minkow's financial backers and his associates in the investment community who have benefited from illegal stock price manipulation," said D.J. Poyfair, attorney with Shughart, Thomson & Kilroy P.C. and legal counsel to USANA. "We believe Mr. Minkow and his associates have been engaged in a well-coordinated effort to line their pockets through illegal manipulation of USANA's stock price. The fact that nearly 9 million shares, or approximately 125% of the public float, are shorted we think is evidence of stock manipulation. Minkow has already admitted that he will gain financially from a decrease in the company's stock price, and we believe the evidence will demonstrate a deliberate campaign to damage USANA with misinformation and false statements. We look forward to the discovery process and taking this first important step in exposing this crime against USANA."
Sincerely,
Dan Macuga
Vice President
Network Development & Public Relations
USANA Health Sciences, Inc.
I was reading a great book by Jim Cramer entitled "Real Money". In that book he talked about all the people he would manipulate into writting articles in the Wall Street Journal. I didn't know all the ins and outs and still don't but it's a shame that it happens. It is not fair, but all things good will prevail. There was a nasty article written up in the Journal about Usana that caused some serious damage. Amazingly, we are going to still make another quarter of consecutive record growth now of 20 quarters. When you are on top for 9 years in a row, people will do anything possible to bring you down. Damn devils. Do your due diligence and get to the truth before reading things at face value. It is not always as you perceive. I mean seriously, Dr. Myron Wentz just received the Albert Einstein World Award for Science. It is given as a means of recognition, and as an incentive to scientific and technological research and development", with special consideration for researchers which "have brought true benefit and well being to mankind." The Albert Einstein World Award for Science, salutes leaders whose vision and commitment have contributed to the critical advancement of vital life-saving and life-enhancing technology to benefit mankind. Dr. Wentz received the award in recognition of his contributions to nutritional science, as well as his many humanitarian endeavors.“I am honored and humbled to receive an award that bears the name of Albert Einstein,” Dr. Wentz said. “As both an extraordinary scientist and dedicated humanitarian, he serves as a great inspiration for my life’s work, helping people lead healthier lives through nutritional science.”That is a serious award people. But you know...maybe its a scam.
As part of this discovery process and under the penalty of perjury, Mr. Minkow will be asked to reveal a variety of undisclosed information related to his and his unidentified partners' alleged attempt to profit from deliberately driving down USANA's stock price. Specifically, he will be required to identify his financial backers as well as any and all financial institutions, short sellers or individuals with whom he has shared involvement on this matter.
USANA has filed a lawsuit against Mr. Minkow and his for-profit company in U.S. District Court, District of Utah, Central Division, alleging that he has engaged in a public relations campaign to intentionally and illegally manipulate the market for USANA's stock for the economic benefit of himself and his undisclosed associates. USANA is demanding judgment against Mr. Minkow and his undisclosed financial backers and associates including among other remedies, injunctive relief, restitution, damages and recovery of attorney fees and other costs related to defending against the defendants' conduct.
"We are pleased that the judge has recognized the merit of USANA's position that it is entitled to expedited discovery to learn the identity of Mr. Minkow's financial backers and his associates in the investment community who have benefited from illegal stock price manipulation," said D.J. Poyfair, attorney with Shughart, Thomson & Kilroy P.C. and legal counsel to USANA. "We believe Mr. Minkow and his associates have been engaged in a well-coordinated effort to line their pockets through illegal manipulation of USANA's stock price. The fact that nearly 9 million shares, or approximately 125% of the public float, are shorted we think is evidence of stock manipulation. Minkow has already admitted that he will gain financially from a decrease in the company's stock price, and we believe the evidence will demonstrate a deliberate campaign to damage USANA with misinformation and false statements. We look forward to the discovery process and taking this first important step in exposing this crime against USANA."
Sincerely,
Dan Macuga
Vice President
Network Development & Public Relations
USANA Health Sciences, Inc.
I was reading a great book by Jim Cramer entitled "Real Money". In that book he talked about all the people he would manipulate into writting articles in the Wall Street Journal. I didn't know all the ins and outs and still don't but it's a shame that it happens. It is not fair, but all things good will prevail. There was a nasty article written up in the Journal about Usana that caused some serious damage. Amazingly, we are going to still make another quarter of consecutive record growth now of 20 quarters. When you are on top for 9 years in a row, people will do anything possible to bring you down. Damn devils. Do your due diligence and get to the truth before reading things at face value. It is not always as you perceive. I mean seriously, Dr. Myron Wentz just received the Albert Einstein World Award for Science. It is given as a means of recognition, and as an incentive to scientific and technological research and development", with special consideration for researchers which "have brought true benefit and well being to mankind." The Albert Einstein World Award for Science, salutes leaders whose vision and commitment have contributed to the critical advancement of vital life-saving and life-enhancing technology to benefit mankind. Dr. Wentz received the award in recognition of his contributions to nutritional science, as well as his many humanitarian endeavors.“I am honored and humbled to receive an award that bears the name of Albert Einstein,” Dr. Wentz said. “As both an extraordinary scientist and dedicated humanitarian, he serves as a great inspiration for my life’s work, helping people lead healthier lives through nutritional science.”That is a serious award people. But you know...maybe its a scam.
