Judge gives final approval to $47M settlement of Nu Skin shareholder lawsuit
First Published Oct 13 2016 05:00PM • Last Updated Oct 13 2016 07:35 pm
A federal judge on Thursday gave final approval to a settlement in a shareholder lawsuit against Nu Skin Enterprises in which the company agreed to pay $47 million over allegations it had operated an illegal pyramid scheme in China which it failed to disclose, even as it reported soaring earnings.
The Provo-based multi-level marketer of personal care products and nutritional supplements reached the settlement earlier this year and U.S. District Judge Jill Parrish on Thursday gave final approval, and also Ok'd a distribution plan and awarded attorney fees. Nu Skin said it and individual officers named in the lawsuit continue to deny the allegations. Read the full story here.
First Published Oct 13 2016 05:00PM • Last Updated Oct 13 2016 07:35 pm
A federal judge on Thursday gave final approval to a settlement in a shareholder lawsuit against Nu Skin Enterprises in which the company agreed to pay $47 million over allegations it had operated an illegal pyramid scheme in China which it failed to disclose, even as it reported soaring earnings.
The Provo-based multi-level marketer of personal care products and nutritional supplements reached the settlement earlier this year and U.S. District Judge Jill Parrish on Thursday gave final approval, and also Ok'd a distribution plan and awarded attorney fees. Nu Skin said it and individual officers named in the lawsuit continue to deny the allegations. Read the full story here.
No comments:
Post a Comment