An investigation on behalf of investors in Nu Skin Enterprises, Inc. (NYSE:NUS) shares over potential wrongdoing at Nu Skin Enterprises was announced and NYSE:NUS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/25/2015 -- An investigation on behalf of current long-term investors in shares of Nu Skin Enterprises, Inc. (NYSE:NUS) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Nu Skin Enterprises, Inc.
Investors who purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS) and currently hold any of those NYSE:NUS shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Nu Skin Enterprises officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On January 15, 2014 a report in the People's Daily, a Chinese newspaper, criticized certain business practices of Nu Skin Enterprises Inc The report alleged that Nu Skin Enterprises Inc was a "suspected illegal pyramid scheme". The same day Nu Skin Enterprises Inc said the report contained inaccuracies and exaggerations that are not representative of Nu Skin Enterprises Inc's business in China.
On January 16, 2014, China's news agency Zinhau reportedly said that China's State Administration for Industry and Commerce ordered local authorities to investigate media reports that allege Nu Skin Enterprises Inc distributes false information and conducts illegal business in China.
On January 21, 2014 a lawsuit was filed against Nu Skin Enterprises, Inc. The plaintiff alleged that between July 10, 2013 and January 14, 2014 Nu Skin Enterprises Inc violated Federal Securities Laws by issuing a series of allegedly false and misleading statements concerning the Company's business practices and growth prospects, particularly with respect to its Mainland China operations, upon which Nu Skin Enterprises Inc has become very dependent for a very significant amount of its revenue and growth. More specifically, the plaintiff claimed that while Nu Skin Enterprises, Inc allegedly issued public statements discussing its positive results and increased guidance, Nu Skin Enterprises Inc failed to disclose what are alleged to be fraudulent sales practices and non-compliance with laws and regulations in China, or their potential impact on Nu Skin Enterprises Inc.
In June 2014 The lead plaintiff filed an amended consolidated complaint and in August 2014 the defendants filed a motion to dismiss the case. However, on February 18, 2015, the judge denied the motion to dismiss.
Nu Skin Enterprises, Inc. reported that its annual Total Revenue declined from over $3.17 billion in 2013 to over $2.56 billion in 2014 and that its Net Income decreased from $364.89 million in 2013 to $189.18 million in 2014.
On February 23, 2015, NYSE:NUS shares closed at $54.91 per share.
Shares of Nu Skin Enterprises, Inc. (NYSE:NUS) declined from $137.68 per share in early 2014 to as low as $38.28 per share in November 2014.
Those who purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS), have certain options and should contact the Shareholders Foundation.
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