Today after the close USANA (NASDAQ:USNA) will report earnings.
In today’s report, Citron documents how the company is creating a criminal conspiracy involving tens of thousands of its own customers, in its largest growth market. But instead of the customary doubletalk and bafflegab – Answer this on your conference call.
USANA is knowingly violating multiple Chinese laws:
· It is illegally importing and selling unapproved products in Chinese mainland via an extensive multi-level marketing network – in gross violation of Chinese strict anti-pyramid scheme law.
· It is not legal to sell unapproved and improperly labeled digestibles in China, which is an especially sore spot with the Chinese government.
· And it is moving these goods into China with disregard to both import duties and VAT taxes, using its tens of thousands of “associates” from the Mainland as its “mules”.
After 4 months of investigation and with thousands of pages of support documentation, we feel confident in claiming that USANA is running a criminal enterprise in China. As Glaxo squirms under the scrutiny of Chinese regulators, It is Citron's opinion that USNA is far more vulnerable. We will stand by this opinion in a court of law.
/wp-content/uploads/2017/05/CitronLogo2017-350x65-1.png00Citron Research/wp-content/uploads/2017/05/CitronLogo2017-350x65-1.pngCitron Research2013-07-23 06:48:202017-05-30 04:00:16Creating a Criminal Conspiracy out of Your Own Customers