Nu Skin settles SEC probe0
Nu Skin Enterprises Inc (NUS.N) said it had reached an agreement with the Securities and Exchange Commission to settle a probe into the skincare products maker’s charitable contribution in China in 2013.
The company also forecast third-quarter revenue at the high-end of its previously issued guidance of $560 million-$580 million.
Nu Skin said it agreed to pay $765,688 to the SEC after the agency found the company’s books and internal controls related to the donation were insufficient.
As a part of the agreement, the company neither admitted nor denied the SEC’s findings.
Shares of Nu Skin were up 3.6 percent at $61.00 after the bell.
Nu Skin said in February that it would pay $47 million to settle a lawsuit that alleged the company operated a pyramid scheme in China and had made false and misleading statements about its operations.
Article Source: reuters.com