NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Nu Skin Enterprises Inc. (NYSE: NUS).
On January 15, 2014, an article in Chinese newspaper The People's Daily alleged that Nu Skin had been misrepresenting its influence and creditworthiness in brochures and through advertisements disguised as news reports. The article also alleged that the Company was suspected of conducting illegal multi-level marketing activities in China. The next day, it was announced that China's State Administration for Industry and Commerce had ordered local authorities to investigate the media reports.
On this news, Nu Skin was downgraded by multiple analysts, and the price of its shares plummeted—from $136.47 on January 14 to $84.80 on January 16, 2014.
In conducting our investigation, it comes to the attention of KSF that Company insiders sold over $49 million of their personally-held stock during the relevant period and before the Company’s illegal activities became known.
KSF’s investigation is focusing on whether Nu Skin and/or its officers and directors violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis Kahn (email@example.com) or KSF Partner Melinda Nicholson (firstname.lastname@example.org) toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.