Market Overview

Nu Skin Volatile Amid Inventory Fraud Allegations

Related NUS
Watch These 8 Huge Put Purchases In Wednesday Trade
Benzinga's Option Alert Recap From October 10

Nu Skin Enterprises, Inc. (NYSE: NUS) spiked lower Wednesday afternoon following a tweet from Sam E. Antar:

According to the court filing, “Nu Skin annually disposes of millions of dollars worth  – many tractor trailer loads – of returned, overstocked, expired, mislabeled, damaged, or otherwise unwanted or unusable Nu Skin products. On information and belief, Nu Skin refers to such products as “Dump Product” because such product, if it is not given to Nu Skin employees through its employee store (“Employee Store”) or donated to charity, is sent to the dump, i.e. , a landfill.”

The court case involves Nu Skin allegedly donating products in an effort to track product diversion outside its authorized sales channels and then claiming the donated property was stolen.

Nu Skin Enterprises recently traded at $41.78, down 0.29 percent.

Posted-In: Sam E. AntarNews Rumors


Related Articles (NUS)

View Comments and Join the Discussion!