Medifast Falls as Second CFO Says He’s Leaving: Washington Mover
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Medifast Inc., a seller of weight-loss meals and counseling, declined the most in 16 months after its acting chief financial officer said he would resign, six weeks after the company’s prior CFO stepped down.
Medifast fell 13 percent to $25.50 at the close in New York, for its biggest one-day decline since August 2011. The Owings Mills, Maryland-based company said today in a regulatory filing that Edward J. Powers would leave as acting CFO and principal accounting officer no later than Jan. 4.