Mannatech Settles Investors' Suit For $11M

Law360, New York (March 21, 2008, 12:00 AM EDT) -- Nutritional supplements maker Mannatech Inc. has agreed to pay $11.25 million to settle a securities class action alleging the company lied to investors and hoodwinked U.S. consumers with exaggerated claims about its health products.

The Coppell, Texas-based company said in a statement Thursday it had resolved all the claims of fraud against the company and its three top executives without admitting any liability or wrongdoing.

Shareholders sued the company, owner Samuel Caster, and executives Terry Persinger and Stephen Fenstermacher in 2005 in the U.S. District Court...
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