Nature's Sunshine lawsuit settled for $6 million
PROVO (AP) — A class-action lawsuit alleging insider trading and securities fraud by several top executives of Nature's Sunshine Products Inc. has been settled for $6 million.
The executives of the Provo nutritional supplements maker were accused of violating federal securities laws by falsifying financial statements to auditors and federal regulators, costing shareholders millions of dollars in damages.
According to the suit, the bogus statements allowed the defendants to sell millions of dollars worth of stock between April 2002 and April 2006 at artificially inflated prices.
In agreeing to settle, the company denied any wrongdoing.
Under the settlement, the company's insurer will pay $6 million plus interest to affected shareholders.
Recent comments
Nature's Sunshine has been fraudulent for decades. People had better...
Anonymous | Nov. 9, 2009 at 12:20 p.m.
This is an example of lawyers trying to make a buck. If a stock...
These lawsuits are common | Nov. 9, 2009 at 9:09 a.m.
Sounds like another Utah County scam by some devout conservatives.
Dixie Dan | Nov. 7, 2009 at 4:19 p.m.
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