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Spector, Roseman & Kodroff, P.C. Announces the Filing of a Class Action Suit Against Nature's Sunshine Products, Inc.


PHILADELPHIA -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit class action lawsuit

A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax
 was commenced in the United States District Court for the District of Utah The United States District Court for the District of Utah is the Federal district court whose jurisdiction is the state of Utah. The court is based in Salt Lake City.

The United States Attorney's Office for the District of Utah
, on behalf of purchasers of the common stock of Nature's Sunshine Products Nature's Sunshine Products, Incorporated (NASDAQ: NATRE), is a manufacturer and marketer of encapsulated herbs and vitamins. It is based in Provo, Utah.

The company was founded in 1972 by Gene Hughes, who started encapsulating capsicum in his home kitchen.
, Inc. ("NSPI NSPI National Spa and Pool Institute
NSPI National Spa & Pool Institute
NSPI Name Service Provider Interface (Microsoft)
NSPI Nova Scotia Power Incorporated
NSPI National Society of Performance and Instruction
") (Pink Sheets:NATR NATR Natchez Trace Parkway (US National Park Service)
NATR No Additional Traffic Reported
NATR Native American Tree Resin, Inc. (Eureka, CA) 
) between May 13, 2002 through March 24, 2006, inclusive (the "Class Period").

The Complaint alleges that the defendants violated the federal securities laws by issuing materially false and misleading statements contained in press releases and filings with the Securities and Exchange Commission during the Class Period. Specifically, it is alleged that: (a) the Defendants knew or recklessly disregarded material adverse information about the Company's financial results and then existing business condition; and (b) the Company's financial statements were materially misstated due to the fact that NSPI failed to properly account for foreign transactions. As a result of defendants' false statements, NSPI stock traded at artificially inflated prices during the Class Period, reaching a high of $23.34 per share on September 30, 2005.

On March 20, 2006, the Company announced that its publicly filed financial statements for each quarter from 2002 through 2005 should not be relied upon due to a Preliminary Report issued by its Audit Committee and an independent consultant, which revealed certain "internal control weaknesses" and "potential violations of law." As a result of this disclosure, NSPI's stock dropped to $14.33 per share. On March 24, 2006, following the Company announcement that it had received a noncompliance noncompliance

failure of the owner to follow instructions, particularly in administering medication as prescribed; a cause of a less than expected response to treatment.

noncompliance 
 notice from the NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
 due to its failure to file its Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 in a timely manner, the price of its stock fell to $11.68 per share. Five days later, on March 29, 2003, the Company's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  resigned and on April 5, 2006, NSPI announced that it had been delisted from NASDAQ. On April 26, 2006, the Company's stock closed at $10.95 per share.

If you purchased NSPI securities during the Class Period, you may, no later than June 2, 2006, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth.

If you have sustained substantial losses in NSPI securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.

If you wish to join this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via E-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com.

Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 28, 2006
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