LifeVantage Terminates a Distributor
November 20 2013 - 4:01PM
LifeVantage Corporation (Nasdaq:LFVN), a company dedicated to
helping people achieve healthy living through a combination of a
compelling business opportunity and scientifically validated
products, today announced that, at the unanimous recommendation of
its Board of Directors, it has terminated for cause its
relationship with Jason Domingo and Ovation Marketing Group, Inc.,
one of the Company's lead distributors. The Company also announced
that it has filed suit against Mr. Domingo and Ovation in Federal
Court in the State of Utah for breach of contract and
misappropriation of trade secrets.
"We are absolutely committed to vigorously protecting the
businesses of our loyal independent distributors," said LifeVantage
President and Chief Executive Officer Douglas C. Robinson. Mr.
Robinson continued, "Our Board of Directors believes that this
action is appropriate in light of Mr. Domingo's actions and is
critical to protect the interests of the entire LifeVantage family,
including distributors, employees, preferred customers and
investors."
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq:LFVN), a leader in Nrf2 science
and the maker of Protandim®, the Nrf2 Synergizer® patented dietary
supplement, TrueScience® Anti-Aging Cream and LifeVantage® Canine
Health, is a science-based network marketing company. LifeVantage
is dedicated to visionary science that looks to transform wellness
and anti-aging internally and externally with products that
dramatically reduce oxidative stress at the cellular level. The
Company was founded in 2003 and is headquartered in Salt Lake City,
Utah.
Forward Looking Statements
This document contains forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Words and expressions reflecting optimism and
satisfaction with current prospects, as well as words such as
"believe," "anticipates," "look forward to," "should" and
variations thereof, identify forward-looking statements, but their
absence does not mean that a statement is not forward-looking.
Examples of forward-looking statements include, but are not limited
to, statements we make regarding the termination of this
distributorship will have on our business going forward. Such
forward-looking statements are not guarantees of performance and
the Company's actual results could differ materially from those
contained in such statements. These forward-looking statements are
based on the Company's current expectations and beliefs concerning
future events affecting the Company and involve known and unknown
risks and uncertainties that may cause the Company's actual results
or outcomes to be materially different from those anticipated and
discussed herein. These risks and uncertainties include, among
others the risk factors discussed in greater detail in the
Company's Annual Report on Form 10-K and its Quarterly Report on
Form 10-Q under the caption "Risk Factors," and in other documents
filed by the Company from time to time with the Securities and
Exchange Commission. The Company cautions investors not to place
undue reliance on the forward-looking statements contained in this
document. All forward-looking statements are based on information
currently available to the Company on the date hereof, and the
Company undertakes no obligation to revise or update these
forward-looking statements to reflect events or circumstances after
the date of this document, except as required by law.
CONTACT: Public Relations Contact:
John Genna (801) 432-9172
Vice President of Marketing & Communications
Investor Relations Contact:
Cindy England (801) 432-9036
Director of Investor Relations
-or-
John Mills (310) 954-1105
Senior Managing Director, ICR, LLC
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