|By PR Newswire||
|January 25, 2014 10:10 AM EST||
NEW YORK, Jan. 25, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Nu Skin Enterprises, Inc. ("Nu Skin" or the "Company") (NYSE: NUS) of the March 24, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Nu Skin, and certain executives.
A complaint has been filed on behalf of all persons who purchased or otherwise acquired Nu Skin securities between October 25, 2011 and January 15, 2014, inclusive (the "Class Period") in the District of Utah.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period the Company and senior executives made a series of false and misleading statements concerning pyramid selling schemes the Company had engaged in in its Mainland China operations.
On January 15, 2014, a leading Chinese newspaper issued an investigative story suggesting that Nu Skin is an illegal pyramid scheme in China and utilizes unlawful and immoral business practices violating Chinese law. Following this news, the Company's stock declined an additional $21.24 per share, or over 15%, to close at $115.23 per share on January 15, 2014 on heavy volume.
Further, on January 16, 2014, the Company disclosed that Chinese government regulators were investigating its business practices.
Request more information now by clicking here: www.faruqilaw.com/NUSKIN. There is no cost or obligation to you.
If you invested in Nu Skin stock, bonds or options between October 25, 2011 and January 15, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/NUSKIN. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Nu Skin's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP