San Diego, CA -- (ReleaseWire) -- 01/22/2014 -- An investigation on behalf of investors of Nu Skin Enterprises, Inc. (NYSE:NUS) shares over potential securities laws violations by Nu Skin Enterprises, Inc. and certain of its directors and officers in connection certain financial statements was announced .
If you purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS), you have certain options and you should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Nu Skin Enterprises, Inc. (NYSE:NUS) concerning whether certain statements by Nu Skin Enterprises, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made. More specifically, the investigation focuses on allegations raised by a report in the People's Daily on January 14, 2014.
Nu Skin Enterprises, Inc. reported that its annual Total Revenue rose from over $1.33 billion in 2009 to over $2.16 billion in 2012 and that its respective Net Income increased from $89.84 million to $221.65 million. Nu Skin Enterprises, Inc. reported that its quarterly Total Revenue rose from $550.09 million in the first quarter 2013 to $927.61 million in the third quarter 2013 and that its respective quarterly Net Income increased from $54.28 million to $110.90 million.
Shares of Nu Skin Enterprises, Inc. (NYSE:NUS) grew from $9.55 per share in March 2009 to as high as $138.66 per share in late 2013.
Then 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 said the report contained inaccuracies and exaggerations that are not representative of Nu Skin’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.
Shares of Nu Skin Enterprises dropped from $136.47 per share on Jan. 14, 2014 to $70.90 per share on Jan. 16, 2014.
On Jan. 17, 2014, NYSE:NUS shares closed at $79.47 per share.
Those who purchased shares of Nu Skin Enterprises, Inc. (NYSE:NUS), have certain options and should contact the Shareholders Foundation.
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