Mannatech settles lawsuit

by louabbott on March 20, 2008

Dallas Business Journal – March 20, 2008

Nutritional supplements maker Mannatech Inc. has agreed to pay $11.25 million to settle a class-action securities lawsuit.

Coppell-based Mannatech (Nasdaq: MTEX) said the settlement, which is subject to final court approval, would resolve all the claims without the company admitting any liability or wrongdoing.

This settlement will be funded by both the company’s insurer and the company itself, Mannatech said.

The litigation was the consolidation of three class-action complaints filed against Mannatech and some of of its officers and directors in August and September 2005. The settlement class consists of those who bought Mannatech stock between August 10, 2004, and July 30, 2007.

Read the entire article at the Dallas Business Journal

Also, read our company overview:  Mannatech Facts, News and Review

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