Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Mannatech cuts costs with layoffs

This article was originally published in The Tan Sheet

Executive Summary

The Coppell, Texas-based multi-level marketer will immediately eliminate roughly 15 percent of its U.S. workforce, or approximately 60 positions, as part of an effort to reduce expenses and "reposition the company for improved profitability," the supplement and skin care firm says July 10. The firm's cost-cutting measures also follow recent legal troubles. Mannatech agreed to pay $11.25 million in March to settle class action allegations that it caused its stock to trade at inflated levels between Aug. 10, 2004 and July 30, 2007 by failing to adequately monitor how its associates advertised its products (1"The Tan Sheet" March 24, 2008, In Brief)...

You may also be interested in...



SEC clears Mannatech

The Securities and Exchange Commission will not recommend enforcement action against Mannatech executives following an investigation into the "timing and completeness" of the multi-level marketer's disclosure of its dismissal of its public accountants in October 2007, the firm says Nov. 4. The Coppell, Texas-based company announced in July a 15 percent cut in its U.S. workforce and in March settled class action allegations of stock price inflation (1"The Tan Sheet" July 14, 2008, In Brief)

Mannatech settles class action

Dietary supplement marketer Mannatech will pay $11.25 million to settle class action allegations that it caused its stock to trade at inflated levels between Aug. 10, 2004 and July 30, 2007 by failing to adequately monitor how its associates advertised its products. Approval by the U.S. District Court for the Northern District of Texas is required for the settlement to be finalized, but the Coppell, Texas-based firm says March 21 it expects approval without material changes within four to six months...

Coronavirus Update: Novavax Launches Phase III Trial In UK As Virus Surges Back

Novavax aims to recruit 10,000 subjects in the UK, and will include a flu vaccination co-administration for some participants.

Topics

UsernamePublicRestriction

Register

PS122308

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel