Wednesday, November 5, 2008
Coppell-based Mannatech no longer under investigation by the SEC
Phew! That was a close one.
COPPELL Mannatech, Incorporated, the Coppell-based developer and provider of dietary supplements and skin care solutions, today announced that the Staff of the Division of Enforcement of the United States Securities and Exchange Commission has notified Mannatech that it has completed its investigation of Mannatech and will not recommend enforcement action against the company.
Mannatech also announced that it had been informed that the SEC had terminated its investigation and will not recommend enforcement action against Mannatech’s Chief Financial Officer and the Chairman of the Audit Committee.
The investigation stemmed from an SEC inquiry relating to the timing and completeness of Mannatech’s October 2007 Form 8-K disclosure regarding its dismissal of Grant Thornton LLP as its independent registered public accountants.
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