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SEC clears Mannatech

This article was originally published in The Tan Sheet

Executive Summary

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)

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