The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of those who purchased or otherwise acquired the securities of Nu Skin Enterprises Inc. (“Nu Skin” or the “Company”) (NYSE:NUS) between October 25, 2011 and January 16, 2014, inclusive (the “Class Period”).
If you purchased or acquired Nu Skin securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than March 24, 2014. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Nu Skin investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Nu Skin Securities Class LitigationNu Skin is a global direct selling company based in Provo, Utah, purporting to manufacture and distribute premium quality personal skin care products and nutritional supplements. Nu Skin markets its products in the Americas, Europe, and the Asia Pacific region. The action alleges that, throughout the Class Period, defendants misrepresented and /or failed to disclose that Nu Skin operated an illegal pyramid selling scheme in the People’s Republic of China (“PRC”). As a result of defendants’ misrepresentations and omissions, Nu Skin’s financial statements were materially false and misleading at all relevant times. On August 7, 2012, Citron Research published an analyst report claiming that Nu Skin’s operations in the PRC were a pyramid scheme based on multi-level marketing and that such schemes are strictly prohibited in China. On this news, Nu Skin stock declined $6.90 per share over two trading sessions, from a closing price of $48.86 on August 6, 2012, to close at $41.96 per share on August 8, 2012, a drop of more than 14%.