DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the Central District of California against Natural Health Trends Corp. (“Natural Health Trends”) (NASDAQ: NHTC) and several officers and directors for acts taken during the period of March 6, 2015 and January 12, 2016 (the “Class Period”).
Shareholders who suffered a loss during the class period have until March 14, 2016 to seek appointment as lead plaintiff. If you lost more than $100,000.00 from shares purchased during the class period and wish to take a more proactive role in the litigation, you are urged to contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via email at email@example.com, or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that the operations of Natural Health Trends’ Chinese entity is not in compliance with applicable Chinese laws and that, as a result, its statements about business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
On January 7, 2016, Seeking Alpha published a post indicating that an investigative report published in China revealed that Chinese authorities are investigating Natural Health Trends. On January 11, 2016, Natural Health Trends issued a press release stating that it was unaware of such an investigation. That same day, GeoInvesting LLC reported that a neighboring office employee stated that uniformed authorities visited Natural Health’s Beijing office around Christmas and seized property. The report further stated that on December 28, 2015, Natural Health Trends posted a special notice on its website warning its distributors to stop using its name, and on January 8, 2016, announced the temporary suspension of its distributor website for maintenance. On January 12, 2016, GeoInvesting LLC issued another report about Natural Health Trends asserting that news broke on several reputable Chinese media sites claiming the company had been raided and was under investigation. Natural Health Trends stock has dropped nearly 34% since the first announcement of the alleged investigation.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.