Nu Skin Enterprises, Inc. (NYSE:NUS) Shareholder Class Action Lawsuit

A lawsuit was filed in U.S. District Court for the District of Utah by an investor in Nu Skin Enterprises, Inc. (NYSE:NUS). Alleging violations of federal securities law, the suit claims that materially false and misleading statements were made to shareholders between July 10, 2013 and January 14, 2014.

If you have purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS) between July 10, 2013 and January 14, 2014, call 1-800-934-2921 right now to protect your rights.

Filing deadline:  03/24/2014

According to the complaint the plaintiff alleges on behalf of investors who purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS) between July 10, 2013 and January 14, 2014, that Nu Skin Enterprises, Inc. and its officers may have violated US security laws stemming from their business practices in China. 

According to the complaint, Nu Skin may have made false and/or misleading statements to investors when it failed to disclose alleged fraudulent sales practices and non-compliance with Chinese law, and their potential impact on Nu Skin Enterprises, Inc and its investors.

On January 15, 2014 a report in the People's Daily, a Chinese newspaper, alleged that Nu Skin Enterprises, Inc. was a “suspected illegal pyramid scheme”. The same day Nu Skin Enterprises responded by issuing a statement that the Chinese report contained inaccuracies and exaggerations that do not describe the true nature of NUS business in China. The next day it was announced that China's State Administration for Industry and Commerce ordered an investigation of Nu Skin based on these allegations. 

Based on this news, shares of Nu Skin dramatically plummeted from $136.47 per share on Jan. 14, 2014 to $70.90 per share on Jan. 16, 2014, a drop of nearly 50%. As of mid February, the stock continues to trade at well below the Jan 14th pre pyramid scheme report price. 

Own shares of Nu Skin Enterprises, Inc. (NYSE:NUS)? Contact us to protect your rights.

If you have purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS) between July 10, 2013 and January 14, 2014, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights. 

Complete the form below for a free no obligation consultation. 

 

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