Several former Chinese distributors of Nu Skin Enterprises, Inc. claim the marketer of skin care and nutritional supplements authorized sales representatives to earn compensation on their “downline” network in violation of the country’s regulations, according to a consolidated putative class-action complaint that was filed last month in Utah federal court against Nu Skin.
Nu Skin misled shareholders, orchestrating a “massive expansion in China knowing that Nu Skin’s form of multi-level compensation violated many of China’s regulations on direct selling and prohibitions on pyramid schemes,” the lead plaintiff State-Boston Retirement System, a government pension plan, alleged in the 124-page lawsuit filed on June 30.
Plaintiffs in the consolidated complaint have requested certification of a class of shareholders who purchased Nu Skin securities including options between May 4, 2011 and January 17, 2014. The end of the class period roughly coincides with a precipitous decline in Nu Skin’s stock price (NUS: NYSE), following revelations that the Chinese government was investigating its business practices.
Plaintiffs have alleged violations of Section 10(b) of The Exchange Act and Rule 10(b)(5), and Section 20(a) of The Exchange Act.
“We continue to believe the allegations are without merit and intend to defend ourselves vigorously,” Nu Skin spokesperson Kara Schneck said. “Nu
Tag Archive for business for home
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Vi UK: Dave Ives and Amanda Churcher Reach 250K Career Earnings
by Tina Williams • • 0 Comments
The past few months have been momentous for Vi UK as two of its founding Promoters hit over $250,000 in personal earnings* within their first year with Vi.
To mark this extraordinary milestone, 3-Star Ambassador Dave Ives—along with his partner Sarah-Jane Howe—and 2-Star Ambassador Amanda Churcher were awarded with Vi’s exclusive $250,000 Earners Pendant.
Amanda had the honor of receiving her pendant from Vi Co-Founders Blake Mallen and Nick Sarnicola in front of hundreds of Promoters at May’s London Regional Success Training.
We caught up with them to get insight into what their Vi journey has been like so far.
Dave Ives: From “Broke Sandwich man to six-figure-earning Shake man”
Dave dove headfirst into Vi in April 2013. Even with little experience in the market, he went on to become an Ambassador in his first week, bringing in a whopping 180 Promoters.
Now with a team of nearly 900 Promoters, 3-Star Ambassadors Dave and SJ have helped over 200 people on their team achieve a BMW, and have already helped three become Ambassadors. The two have developed the business together, combining their skills to create a unique partnership both professionally and personally.
With business in both Ireland and Germany, Dave and SJ are well placed to
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Vemma Joins The $100 Million Club
by Tina Williams • • 0 Comments
Vemma Nutrition Company has earned a coveted place in the DSN $100 Million Growth Club after skyrocketing 30 spots up the DSN Global 100 List in 2014 to land at #53. Vemma’s inclusion is a result of its impressive 89 percent growth, closing the year up by more than $100 million in 2014. Just 17 other companies on the DSN Global 100 List — the Direct Selling Association’s annual list that ranks the top revenue-generating direct selling companies in the world — qualified for entry into the $100 Million Growth Club, including iconic brands such as Amway and Mary Kay.
In announcing its spot in the $100 Million Growth Club, DSN commended Vemma on a successful customer acquisition strategy and streamlined messaging, specifically tailored to resonate with a targeted audience. Additionally, DSN highlighted Vemma’s commitment to the personal development of its Affiliates as an important factor in its growth.
“Our inclusion in the $100 Million Growth Club reflects not just the great products we produce at Vemma, but most importantly the commitment and passion of our hardworking Affiliates around the world,” said Vemma Founder and CEO BK Boreyko. “And with our move to affiliate marketing this past March, I believe that together we’ll
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FTC In South Korea Reveals Average MLM Incomes
by Ted Nuyten • • 0 Comments
The South Korea FTC released information on the country’s multi-level direct marketing companies and their distributors.
Distributors at Amway in South-Korea made an average of 770,000 won ($760) last year, data by the Fair Trade Commission (FTC) showed Tuesday.
According to the data, the number of such companies has been growing steadily, to 106 last year from 67 in 2010.
These companies recorded 3.9 trillion won in combined sales last year, up 19.9 percent from the previous year.
They paid their distributors 1.3 trillion won as commission, but the income was concentrated on only a handful of them ? while the top 1 percent of the active distributors were paid on average 56.6 million won for 2013, the remaining 99 percent made 469,000 won on average.
The number of those who got commissions was 1.3 million, or 22 percent of the total registered as distributors at these multi-level direct sales companies.
Among the multi-level direct marketing companies in the country, Amway Korea is the biggest, with 1.1 trillion won in sales and 1.1 million distributors last year.
Among them, 456,797 got sales commissions totaling 353.3 billion won ? an average of 770,000 won each.
Herbalife in Korea, ranked as the second-biggest player in the industry, with 568.3 billion
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Amber Witt Onstine – Isagenix Hits 2 Star Golden Circle
by Ted Nuyten • • 0 Comments
Amber Witt Onstine distributor for Isagenix achieved the rank of Crystal Executive on July 1.
Just one week later, Amber promoted to 1-Star and then again to 2-Star in the same week.
Amber stated:
I keep pinching myself that I am doing this business while I’m at the pool, park, or beach and that I’m able to bring others with me to create total physical and financial freedom! This FEELS AMAZING to empower others.
Her enroller Michael Clouse stated:
That’s an income between $56,160 to $109,512 per year!
So how did this extremely busy wife and mom of four kids under the age of 12 accomplish this impressive goal?
As I wrote less than a week ago, Amber has a BURNING DESIRE to succeed! Her passion is contagious, her determination is outrageous, and her commitment is second to none!
From the moment I met Amber, I knew she was going straight to the top of our company.
Whatever was thrown at her, whatever she needed to do, whatever it took, Amber was going to figure it out; she was going to go over it, around it, or through it…and she did just that! Well done, Amber.
You are a true inspiration to anyone who knows
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John and Tiffaney Malott – Seacret Direct Top Earners Interview
by Ted Nuyten • • 0 Comments
John and Tiffaney Malott are Seacret Direct Top Earners and have been recognized as Seacret Direct’s first Crown Agents, earning a $250,000 rank advancement bonus and $4,000 a month car bonus in september 2013. The power couple lives both in Phoenx Arizona, as in Mexico.
SEACRET is an international business that has spread to more than 40 countries around the globe. With its affiliate partners, it has more than $1 billion in retail product sales.
The company has become one of the largest distributors of Dead Sea cosmetics, with its products formulated in the largest manufacturing plant in the world, right next to the shores of the Dead Sea. All of this has been accomplished in just the few years since SEACRET was born in 2005.
Ted Nuyten had the honor to interview John and Tiffaney Mallot.
John and Tiffaney, how did you get involved into the Network Marketing industry?
Tiffaney: I was working as a supervisor at the J.M.Smucker company in Memphis, TN. I was looking for a way to make an extra $500/week without getting a second job because I was already working 60 hours a week. I took a trip with my younger sister and I met a gentleman that had
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TelexFree Co-Owner Asks Courts To Release $4M For Legal Costs
by Tina Williams • • 0 Comments
Facing steep costs to defend himself against a criminal fraud charge, TelexFREE co-owner James Merrill has asked a federal court to release more than $4 million of his money so he can pay his legal fees.
While the Ashland man’s attorney’s 8-page motion doesn’t mention where that money came from, Merrill argues it’s the responsibility of U.S. prosecutors to prove the funds are related to their charge against him, which stems from his alleged role atop what they say was an international pyramid scheme.
“Certainly, the government is in no position to challenge the contention that extraordinary funds are necessary to defend the instant prosecution,” Boston-based lawyer Robert Goldstein wrote in the Tuesday filing in U.S. District Court in Worcester. “Indeed, at the original bail hearing, the government not only argued this was not ‘a typical white-collar case,’ but it proceeded to argue that it ‘is probably the largest financial fraud being prosecuted in the United States currently…'”
Merrill specifically identifies five accounts he hopes to draw from to fund his defense: two held in Merrill’s name containing $79,684.28; two in Merrill’s and his wife Kristin Merrill’s names containing $4,090,085.97; and one in the name of his cleaning company, Cleaner Image Associates, containing $10,643. All of those accounts were frozen by the
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Agel Opens Corporate Headquarters in USA
by Nicole Dunkley • • 0 Comments
Congratulations to Agel Enterprises, as they have recently opened a new World Headquarters in Pleasant Grove Utah.
Company president, Craig Bradley, said the Agel (pronounced a-jell) product group was founded nine years ago after he learned of a suspension gel technology that allowed for better absorption of nutrients.
“We knew this was a billion dollar idea. It’s been our goal to build a team that can take that idea to fruition,” Craig Bradley said.
The co-founders and also co-CEOs, Jeff Higginson and Jeremiah Bradley, have incorporated family into their business. Jeremiah Bradley and vice president Zach Bradley are brothers and their father is Craig Bradley.
Jeff Higginson’s brothers, vice presidents Sam Higginson and Scott Higginson, are additionally on the executive team helping to manage the ever-expanding corporation.
Family and the work culture at Agel was showcased at the grand opening ceremony.
To allow the community to become acquainted with Agel’s marketing program, its products, and to celebrate the opening of their new work space, Agel invited Pleasant Grove city officials, local business leaders, and their top selling representatives from around the world, to a ribbon cutting ceremony at company headquarters.
Oskar Okko, a representative from the nearby BMW car dealership, attended the ribbon cutting and open house.
“We
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QNET Supports Globby E-Commerce Platform in Singapore
by Nicole Dunkley • • 0 Comments
Singapore recently hosted a presentation of a new E-Commerce Service. Globby E-Commerce Platform is designed to support small business development in Southeast Asia.
QNET International welcomes the development of electronic commerce in Asia, as the company’s management believes that the development of the e-commerce market is crucial for future growth.
QNET is constantly improving its own products as well as delivery methods to the end user.
The greater number of companies that create an opportunity to promote their products through eCommerce, the greater the number of people in the world get to choose for themselves exactly the way they’d like to purchase goods.
This type of trade is beneficial as the producer has an opportunity to reduce the budgetary output costs and and the consumer has the opportunity to reduce costs pertaining to the acquisition of goods.
QNET supports eCommerce development in many countries. In early February of this year, the Company became a member of The QNET E-Commerce Association in the Philippines. This non-profit partnership engages in increasing the competitiveness of Philippine business in the global market. It brings together the leading players in the electronic market of this country.
Joachim Steffen, regional director of QNET in the Commonwealth of Independent States (CIS) and Europe,
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Herbalife Stock May Rise Over Next Few Days
by Tina Williams • • 0 Comments
Bidness Etc predicts a rise in Herbalife stocks in their article posted today:
Herbalife Ltd. (HLF) is up about over 33.5% since our last Bullish update on the stock in March. The stock is still down about 15.2% year-to-date (YTD) due to persistent concerns regarding its business model and related investigations; however, it has been on an upswing since April as a result of the company’s strong financial performance.
Herbalife’s trust-building initiatives – such as providing a Gold Standard Guarantee and posting testimonials from members and customers on iamherbalife.com – have also helped it make its business model more transparent, thereby boosting investors’ confidence in the company.
Herbalife is already working on reducing its dependence on its multilevel marketing model – the main point of contention with its critics – with new campaigns. It launched “CR7 Driven to Perfection” with Cristiano Ronaldo last month. As part of the campaign, Ronaldo fans from around the world created and posted photos or videos on their Facebook profiles to show how they individually strive for perfection. Ronaldo chose his favorite video from among the submissions and shared it on his official Facebook page.
These new campaigns are expected to engage more members and customers from around the world, reinforce investor confidence, and