Robbins Arroyo LLP: Natural Health Trends Corp. (NHTC) Sued for Misleading Investors
SAN DIEGO & ROLLING HILLS ESTATES, Calif.--(BUSINESS WIRE)--Jan 17, 2019--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Natural Health Trends Corp. (NASDAQ: NHTC) filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between April 27, 2016 to January 5, 2019. Natural Health Trends, a direct-selling and e-commerce company, provides wellness, beauty, and lifestyle products for consumers or business builders under the NHT Global brand name.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/natural-health-trends-corp-jan-2019/
Natural Health Trends Accused of Being a Pyramid Scheme
According to the complaint, from 2016 to 2018, Natural Health Trends filed Forms 10-Ks and 10-Qs stating that the company’s Chinese entity was operating in compliance with applicable Chinese laws. However, on January 7, 2019, GeoInvesting reported that China Central Television, a prominent state broadcaster, aired an exposé asserting that the company was operating as a pyramid scheme. An expert on the CCTV program claimed that Natural Health Trends was a pyramid scheme because it makes money by recruiting members. Furthermore, the program claimed that one of its products, Noni Juice, did not have domestic approval and registrations related to wellness foods. When this news broke, Natural Health Trends stock fell $4.89 per share, or over 24%, to close at $14.88 per share on January 7, 2019.
Natural Health Trends Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190117005666/en/
CONTACT: Leonid Kandinov
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2019.
PUB: 01/17/2019 01:07 PM/DISC: 01/17/2019 01:07 PM