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 August 5, 2014, Nu Skin announced its second quarter results, reporting a 73% drop in quarterly profit as costs jumped and sales in Greater China, its biggest market, fell 12%. The Company earned $1.13 per share with revenue of $650 million, well below analysts’ expectations of $1.27 per share on revenue of $709 million. The Company also stated that it would restate its first quarter results to include about $28 million in charges reflecting high inflation rates in Venezuela and a tax rebate for its China headquarters.
On this news, the price of Nu Skin’s shares plummeted by almost 20%.
KSF’s investigation is focusing on whether Nu Skin and/or its officers and directors violated state or federal securities laws.
If you are a Nu Skin shareholder that has suffered losses related to your investment or have information that would assist KSF in its investigation, 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, California 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.