Law Offices of Howard G. Smith Reminds Investors Of The Lead Plaintiff Deadline In The Class Action Lawsuit Against Nu Skin Enterprises, Inc.
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors that all purchasers of the common stock of Nu Skin Enterprises, Inc. (“Nu Skin” or the “Company”) (NYSE:NUS) between October 25, 2011 and January 15, 2014, inclusive (the “Class Period”), have until March 24, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
The Complaint filed in the United States District Court for the District of Utah alleges that the Company and certain of its executive officers misrepresented or failed to disclose that the Company’s business practices in China operated as an illegal pyramid scheme and did not comply with local laws and regulations, and the Company’s rapid growth and revenue increase could not continue without its China business.
On January 15, 2014, China’s Communist Party newspaper, The People's Daily, alleged that Nu Skin had been misrepresenting its influence and creditworthiness in Company brochures, and passing advertisements as news reports. The newspaper subsequently alleged that the Company was suspected of conducting illegal multi-level marketing activities in China. Following this news, on January 15, 2014, the price of Nu Skin shares dropped $21.24 per share, on heavy trading volume, to a closing price of $115.23 per share.
If you purchased Nu Skin common stock during the Class Period, you may move the Court no later than March 24, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.