STEVENSON, Md., March 7, 2014 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Utah on behalf of purchasers of Nu Skin Enterprises, Inc. ("Nu Skin" or the "Company") (NYSE:NUS) common stock during the period between October 25, 2011 and January 15, 2014, inclusive (the "Class Period").
If you have suffered a net loss from investment in Nu Skin common stock purchased on or after October 25, 2011, and held through January 15, 2014, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff, at no cost to you, by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than March 24, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934. According to the Complaint, defendants failed to disclose during the Class Period the Company's fraudulent sales practices and non-compliance with China's laws and regulations and their potential impact on the Company. Particularly, in January 2014, two Chinese agencies announced that they were probing the Company's marketing and business practices in China, and it was suspected the Company was operating an illegal pyramid scheme. Following this news, the value of Nu Skin shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.