NEW YORK, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Natural Health Trends Corp. ("Natural Health Trends" or the "Company")(NASDAQ: NHTC ) of the March 11, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Natural Health Trends stock or options between April 27, 2016 and January 5, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/NHTC . There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT: FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Natural Health Trends securities between April 27, 2016 and January 5, 2019 (the "Class Period"). The case, Daniel Kauffman v. Natural Health Trends Corp. et al. , No. 19-cv-00163 was filed on January 8, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Natural Health Trends was operating as a pyramid scheme in China, which is contrary to Chinese law; (2) consequently, Natural Health Trends was not in compliance with applicable Chinese law; and (3) as a result, the Company’s statements about Natural Health Trends’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
On January 7, 2019, GeoInvesting reported that China Central Television, a prominent state television broadcaster in China, aired an exposé on Saturday, January 5, 2019, asserting that Natural Health Trends was operating as a pyramid scheme in China, contrary to Chinese law. According to GeoInvesting, an expert on the CCTV program claimed that the Company is a pyramid scheme because it actually makes money by recruiting members, even though its business appears to be selling juice.
On this news, Natural Health Trends's share price fell from $19.77 per share on January 4, 2019 to a closing price of $14.88 on January 7, 2019: a $4.89 or a 24.73% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Natural Health Trends's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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