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Case Status:    SETTLED
On or around 10/13/2016 (Date of order of final judgment)

Filing Date: January 21, 2014

According to the law firm press release, Nu Skin is a global direct selling company with operations in 53 markets worldwide. The Company purports to develop and distribute premium quality anti-aging personal care products and nutritional supplements under its Nu Skin and Pharmanex brands. The Company's global operations generated more than $2.17 billion in revenue during 2012.

The complaint alleges that during the Class Period, defendants issued a series of false and misleading statements concerning the Company's business practices and growth prospects, particularly with respect to its Mainland China operations, upon which the Company has become very dependent for a very significant amount of its revenue and growth. Sales in Mainland China accounted for nearly one third of the Company's total revenue in the first nine months of 2013. Further, the complaint alleges that while the Company issued public statements discussing its positive results and increased guidance, it failed to disclose what are alleged to be fraudulent sales practices and non-compliance with laws and regulations in China, or their potential impact on the Company. Then, in January 2014, two Chinese agencies announced that they are probing the Company's marketing and business practices in China and that it was suspected the Company was operating as an illegal pyramid scheme. These revelations had an immediate impact on the Company's stock price, causing shares of Nu Skin's stock, which had risen from less than $70 per share to a high of $140.50 per share during the Class Period, to tumble over 44% in the two days of trading after these announcements. Nu Skin stock closed the trading day on January 17, 2014 at less than $80 per share.

On May 1, 2014, the Court ordered for Consolidation of Related Actions, appointed the Lead Plaintiff and approved the selection of Lead Counsel. On June 30, Lead Plaintiff filed a consolidated complaint.

On May 2, 2016, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved by the Court on May 24. On October 13, 2016, the Court granted final approval of the Settlement and entered judgment in this case.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Personal & Household Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NUS
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Utah
DOCKET #: 14-CV-00033
JUDGE: Hon. Paul M. Warner
DATE FILED: 01/21/2014
CLASS PERIOD START: 07/10/2013
CLASS PERIOD END: 01/14/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Anderson & Karrenberg
    700 Bank One Tower, 50 West Broadway, Anderson & Karrenberg, UT 84101
    801.534.1700 ·
  2. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
No Document Title Filing Date
COURT: D. Utah
DOCKET #: 14-CV-00033
JUDGE: Hon. Paul M. Warner
DATE FILED: 06/30/2014
CLASS PERIOD START: 05/04/2011
CLASS PERIOD END: 01/17/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Ademi & O'Reilly, LLP
    3620 East Layton Ave., Ademi & O'Reilly, LLP, WI 53110
    866-264-3995 414-482-8001 · inquiry@ademilaw.com
  2. Barrack, Rodos & Bacine (San Diego)
    600 West Broadway, Suite 900, Barrack, Rodos & Bacine (San Diego), CA 92101
    619.230.0800 619.230.0800 ·
  3. Christensen & Jensen, P.C.
    15 W South Temple, Christensen & Jensen, P.C., UT 84101
    801.323.5000 801.355.3472 ·
  4. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
  5. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  6. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
  7. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date