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Lerach Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against Nature's Sunshine Products, Inc.

SAN DIEGO -- Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") (http://www.lerachlaw.com/cases/naturessunshine/) today announced that a class action has been commenced in the United States District Court for the District of Utah on behalf of purchasers of Nature's Sunshine Products, Inc. ("NSPI") (NASDAQ:NATRE) common stock during the period between October 19, 2004 and March 24, 2006 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach or Darren Robbins of Lerach Coughlin at 800-449-4900 or 619-231-1058, or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/naturessunshine/. Any member of the purported 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.

The complaint charges NSPI and certain of its officers and directors with violations of the Securities Exchange Act of 1934. NSPI engages in the manufacture and marketing of nutritional and personal care products.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. As a result of defendants' false statements, NSPI's stock traded at artificially inflated prices during the Class period, reaching a high of $23.24 per share, allowing its top officers to reap hundreds of thousands of dollars in ill-gotten bonuses and certain of the defendants to sell over $2.9 million worth of their NSPI stock at artificially inflated prices.

On February 17, 2006, the Company issued a press release in which it stated that it had expanded its previously announced review of selected financial information with respect to certain of its foreign operations and that it had received notice from Nasdaq that its common stock was subject to delisting. On March 20, 2006, the Company filed an 8-K with the SEC announcing that its previous financial statements could no longer be relied upon and that it had expanded its investigation to include other matters related to the Company's financial statements. Then on March 24, 2006, the Company announced that it had received a non-compliance notice from the Nasdaq due to its failure to file its Form 10-K in a timely manner. On this news the Company's stock fell to $11.68 per share.

According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company lacked requisite internal controls, and, as a result, the Company's projections and reported results issued during the Class Period were based upon defective assumptions and/or manipulated facts; and (b) the Company's financial statements were materially misstated due to its failure to properly account for foreign transactions.

Plaintiff seeks to recover damages on behalf of all purchasers of NSPI common stock during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Lerach Coughlin, a 160-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.
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Publication:Business Wire
Date:Apr 3, 2006
Words:653
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