RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Natural Health Trends Corp. (“Natural Health Trends” or the “Company”) (NASDAQ: NHTC) securities between April 27, 2016 and January 5, 2019, inclusive (the “Class Period”).
Natural Health Trends shareholders may, no later than March 11, 2019, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Natural Health Trends and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that defendants made materially false and misleading statements during the Class Period, and failed to disclose to investors that: (i) Natural Health Trends was operating as a pyramid scheme in China, which is contrary to Chinese law; (ii) consequently, Natural Health Trends was not in compliance with applicable Chinese law; and (iii) as a result, Defendants’ 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 asserting that Natural Health Trends was operating as a pyramid scheme in China, contrary to Chinese law. Following this news, shares of the Company’s stock fell $4.89 per share, or nearly 25% in value, to close on January 7, 2019 at $14.88 per share, on heavy trading volume.
If you are a member of the class, you may, no later than March 11, 2019, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.