UPDATE 1-Mannatech gets SEC notice on accountants' dismissal

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Sept 5 (Reuters) - Dietary supplements provider Mannatech Inc (MTEX.O: Quote, Profile, Research, Stock Buzz) said it received a regulatory notice calling into question the timing and completeness of the company's October 2007 disclosure on the dismissal of its accountants.

In a filing on Oct. 18, 2007, Mannatech had said it dismissed Grant Thornton LLP as its independent registered public accountants, following the latter's request that the company either remove Sam Caster, its chairman and founder, from all responsibilities, or engage another accounting firm.

Mannatech's audit committee approved the decision to change the accountants.

With the issuance of the "Wells Notice," the staff of the U.S. Securities and Exchange Commission could recommend the commission bring 'cease and desist' proceedings against Mannatech, its CFO and the chairman of its audit committee.

Mannatech said it was cooperating with the inquiry and intends to respond to the notice. (Reporting by Dhanya Skariachan in Bangalore; Editing by Gopakumar Warrier)