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Mannatech says it has not heard from AG
08:40 AM CST on Tuesday, October 31, 2006
Mannatech Inc., a Coppell-based maker of nutritional supplements, said Monday it has not been contacted by the Texas attorney general's office regarding an investigation into the company's alleged activities.
On Friday, the attorney general's office sent out a nine-page memo with information on a probe launched over health claims made about the company's products.
News of the probe sent the company's stock plummeting, losing 16.54 percent. Shares regrouped a bit Monday, gaining 63 cents, or 4.2 percent, to close at $15.57.
Mannatech said in a statement that "it is committed to continuing to work with any and all regulatory agencies that have an interest in the company or its products. The company believes that its compliance programs are taken very seriously by its employees and its [526,000] independent associates and are a pivotal aspect of its continued success."
Company executives were not available for additional comment.
Tom Kelley, a spokesman for the attorney general's office, said he would not comment on whether the office has been in touch with Mannatech.
"We do not acknowledge our contact with companies," he said. "If they make that information available ... that's up to them."
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