NEW YORK, Jan. 11, 2019 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Natural Health Trends Corp. (“Natural Health Trends” or the “Company”) (Nasdaq: NHTC) in the United States District Court for the Central District of California, on behalf of a class consisting of investors who purchased or otherwise acquired securities of Natural Health Trends between April 27, 2016 and January 5, 2019 (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint alleges that throughout the class period Defendants made false and/or misleading statements and/or failed 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, Defendants statements about Natural Health Trends business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the March 11, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected]
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