If you purchased shares of Nu Skin and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/nus. You may also email Mr. Maniskas at email@example.com.
Nu Skin develops and distributes anti-aging personal care products and nutritional supplements worldwide under the Nu Skin and Pharmanex brands.
The investigation concerns whether Nu Skin and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The investigation is related to allegations that the Company distributes false information and conducts illegal business in China. An article published January 15, 2014, in China's Communist Party newspaper, The People's Daily, alleged that Nu Skin had been misrepresenting its influence and creditworthiness in Company brochures and through advertisements disguised 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. On January 16, 2014, China's state news agency, Xinhua, said China's State Administration for Industry and Commerce had ordered local authorities to investigate the recent media reports about Nu Skin. On this news, shares of Nu Skin fell $30.43 or 26.41% to close at $84.80 per share.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP