This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hagens Berman: Five Days Remain To File For Lead Plaintiff In Nu Skin Class Action As Company Reveals Likely China Fines And Sanctions

BERKELEY, Calif., March 19, 2014 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, alerts purchasers of Nu Skin Enterprises, Inc. (NYSE: NUS) ("Nu Skin" or "the Company") stock who purchased between Oct. 25, 2011 and Jan. 16, 2014 (the "Class Period") that the company has announced potential sanctions and fines in light of a securities fraud lawsuit, and reminds investors of the March 24, 2014 deadline to file as a lead plaintiff in the class action. Investors who suffered significant financial losses related to the case can email NUS@hbsslaw.com for more information.

On March 13, 2014, Nu Skin announced in its annual report that it expects to be fined and possibly sanctioned by Chinese regulators who are currently investigating claims that the company operated an illegal pyramid scheme, greatly endangering the investments of its shareholders.

"These other sanctions could include a formal suspension of our ability to recruit new sales people and direct sellers, a temporary suspension of our ability to sell products in various markets or, in the most extreme cases, loss of existing licenses to operate in various jurisdictions in Mainland China," the report states. "Any of these actions or outcomes could materially harm our business and financial condition."

Following this announcement by the company, Nu Skin stock fell four percent to $73.57 in after-hours trading.

Three lawsuits have been filed in the Utah District Court alleging that Nu Skin made false or misleading representations to investors regarding its business in China. These cases will likely be consolidated into one case. If you bought stock in the Company during the Class Period, have significant losses in excess of $100,000 and wish to serve as a lead plaintiff in these cases, please contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000. Additional information is available at http://hb-securities.com/investigations/NUS.

Nu Skin's annual report also states that, "The adverse publicity and suspension of business promotional meetings and acceptance of applications has had a significant negative impact on the number of Sales Leaders and Actives, and our revenue in the short term will be negatively impacted by these voluntary actions. Any inability to resume normal business operations in the near term could have a more significant impact on our business."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs