|[August 06, 2014]
NU SKIN INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Nu Skin Enterprises Inc. Following Disclosure of Disappointing Results and Restatement
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into Nu Skin Enterprises Inc.
On August 5, 2014, Nu Skin announced its second quarter results,
reporting a 73% drop in quarterly profit as costs jumped and sales in
Greater China, its biggest market, fell 12%. The Company earned $1.13
per share with revenue of $650 million, well below analysts'
expectations of $1.27 per share on revenue of $709 million. The Company
also stated that it would restate its first quarter results to include
about $28 million in charges reflecting high inflation rates in
Venezuela and a tax rebate for its China headquarters.
On this news, the price ofNu Skin's shares plummeted by almost 20%.
KSF's investigation is focusing on whether Nu Skin and/or its officers
and directors violated state or federal securities laws.
If you are a Nu Skin shareholder that has suffered losses related to
your investment or have information that would assist KSF in its
investigation, you may, without obligation or cost to you, e-mail or
call KSF Managing Partner Lewis Kahn (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com)
toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York,
California and Louisiana. KSF's lawyers have significant experience
litigating complex securities class actions nationwide on behalf of both
institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
[ Back To Technology News's Homepage ]