March 18 Nu Skin Enterprises Inc said on
Tuesday that it would likely be fined by Chinese regulators
investigating whether the producer of personal care products and
nutritional supplements distributed false information and
conducted illegal business in China.
Nu Skin also said in its annual report filed with the U.S.
Securities and Exchange Commission that it has temporarily
suspended promotional meetings and accepting applications from
prospective new sales representatives in China.
The company said that in addition to fines, it could
potentially face sanctions in China, such as a formal suspension
of its ability to recruit new sales people and a temporary
suspension of its right to sell products in various markets.
In January, China's State Administration for Industry and
Commerce (SAIC) ordered local authorities to investigate media
reports alleging misconduct by Nu Skin.
Nu Skin shares fell 4 percent to $73.57 in after hours