BOCA RATON, FL--(Marketwired - Feb 5, 2014) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of Utah against Nu Skin Enterprises, Inc. ("Nu Skin" or the "Company") (NYSE: NUS) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from July 10, 2013 through January 16, 2014 (the "Class Period").
Through the Nu Skin and Pharmanex brand names, Nu Skin purports to manufacture and distribute skin care and nutrition products in fifty-three markets worldwide including North Asia, the Americas, Greater China, Southeast Asia/Pacific, and Europe.
The complaint brings forth claims for violations of the Securities Exchange Act of 1934. The complaint alleges that Nu Skin touted the strength of its operations in China; however, in reality the Company's success could not be sustained as local Chinese law and regulations were violated through its business practices. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's operations in the People's Republic of China ("PRC") resulted in pyramid selling schemes in violation of PRC law; and (ii) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.
If you purchased Nu Skin stock between July 10, 2013 and January 16, 2014, inclusive, you may contact Lester Hooker (firstname.lastname@example.org) at Saxena White P.A. to discuss your rights and interests.
If you purchased Nu Skin common stock during the Class Period of July 10, 2013 through January 16, 2014, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than March 24, 2014. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., located in Boca Raton, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.