Natural Health Trends Corp (NASDAQ: NHTC) Investor Securities Class Action Lawsuit 01/12/2016

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Company Name(s): 
Natural Health Trends Corp.
Case Name: 
Natural Health Trends Corp Shareholder Class Action Lawsuit 01/12/2016
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NASDAQ: NHTC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/12/2016
Class Period Begin: 
03/06/2015
Class Period End: 
03/15/2016
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
03/14/2016
Date Settled: 
11/16/2017
Settlement Amount: 
$1,750,000
Deadline to Participate in Settlement: 
05/12/2018
Summary: 

January 4, 2018 - The court modified the preliminary approval order.

November 16, 2017 - The court preliminarily approved the settlement.

October 3, 2017 - Parties filed a stipulation of settlement.

June 15, 2016 - Defendants filed a motion to dismiss.

April 29, 2016 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased Natural Health Trends Corp (NASDAQ: NHTC) common shares between March 6, 2015 and March 15, 2016. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between March 6, 2015 and March 15, 2016.

March 29, 2016 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

March 14, 2016 - Lead plaintiff motions were filed.

January 12, 2016 - An investor in shares of Natural Health Trends Corp (NASDAQ: NHTC) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Natural Health Trends Corp in connection with certain allegedly false and misleading statements made between March 6, 2015 through January 12, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Natural Health Trends Corp (NASDAQ: NHTC) common shares between March 6, 2015 through January 12, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 6, 2015 through January 12, 2016 the defendants issued certain false and misleading statements to investors and/or failed to disclose that the operations of Natural Health Trends’ Chinese entity is not in compliance with applicable Chinese laws, and that 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.

Natural Health Trends Corp reported that its Total Revenue rose from $31.16 million in 2011 to $124.59 million in 2014 and that its Net Income increased from $2.31 million in 2011 to $20.37 million in 2014. Shares of Natural Health Trends Corp (NASDAQ: NHTC) grew from $4.60 per share in early 2014 to as high as $51.46 per share in November 2015.

On January 7, 2016, various media outlets in China reported that Natural Health Trends Corp is suspected of violating China’s multi level marketing law and is currently being investigated by Chinese authorities. Shares of Natural Health Trends Corp (NASDAQ: NHTC) declined on January 12, 2016, to as low as $16.45 per share.