STEVENSON, Md., Jan. 16, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Natural Health Trends Corp. (Oher OTC:NHTC) (“Natural Health Trends” or the “Company”) securities during the period between March 6, 2015 and January 12, 2016, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until March 14, 2016 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Natural Health Trends securities purchased on or after March 6, 2015 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. 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 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the operations of Natural Health Trends’ Chinese entity was not in compliance with applicable Chinese laws.
According to the complaint, on January 7, 2016, Seeking Alpha published a post indicating that a newspaper investigative report published in China revealed that the Company is being investigated by Chinese authorities. On January 11, 2016, GeoInvesting, LLC issued a report about the Company asserting, among other things that: according to a neighboring office employee, the Company’s Beijing office was visited by uniformed authorities around Christmas who seized property; on December 28, 2015 the Company posted a special notice on its official website warning its distributors to stop using its name; on January 8, 2016 the Company announced the temporary suspension of its distributor website for maintenance; and snapshots from the Company’s Hong Kong website appear to confirm that the Company is operating an illegal multi-level marketing scheme in China. On January 12, 2016, GeoInvesting issued another report about the Company asserting, among other things, that news broke on several reputable Chinese media sites that morning, including SINA Finance , claiming the Company had been raided and is under investigation. On this news, the value of Natural Health Trends shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. 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.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
