Kelley McCoy (Winter Park Florida) Failing at ViSalus 90-Day Challenge? | Are Concerns Over Class Action Lawsuits Rising in Virginia
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And at Blyth, Inc. (BTH), there was insider buying on Friday, by Director Ilan Kaufthal who purchased 2,000 shares at a cost of $25.96 each, for a trade totaling $51,920. Blyth, Inc. is trading down about 2.3% on the day Tuesday.
http://finance.yahoo.com/news/
Holzer Holzer & Fistel, LLC is investigating whether Blyth, Inc. (“Blyth” or the “Company”) (BTH) and/or its officers or directors have violated the federal securities laws. The investigation focuses on whether a series of statements made between August 16, 2012 and September 25, 2012, inclusive regarding the Company’s business, its prospects and its operations were materially false and misleading at the time they were made in connection with Blyth’s announced plan to spinoff ViSalus by selling $175 million of ViSalus stock through an initial public offering. Blyth announced the plan on August 16, 2012, and subsequently cancelled the sale on September 26, 2012, resulting in a significant decline in the price of Blyth stock.
http://finance.yahoo.com/news/
The firm is also investigating actions on behalf of shareholders for the following: Blyth, Inc. (BTH). If you are a shareholder of any of the above companies and wish learn more about any of the investigations or have any questions, please contact Alfred G. Yates Jr., Esquire at 1-800-391-516
Also lower were shares of Blyth (BTH), which rose early in the session but then reversed to be down 9% near midday after increasing its ownership in ViSalus to more than 80%.
http://finance.yahoo.com/news/
NEW YORK (AP) — A look at the 10 biggest percentage decliners on New York Stock Exchange at the close of trading: Blyth Inc. fell 8.2 percent to $14.75.
Blyth (NYSE:BTH) announced that ViSalus, at its National Success Training event in St. Louis Friday, will report that its third quarter sales were approximately $169.9 million, which marks an increase of $96.7 million, or 132 percent, from $73.2 million in sales year-over-year from 2011. Shares closed down 13.7 percent on the day at $19.97, but having been traded in a 52-week range of $26.75 to $46.15
http://finance.yahoo.com/news/
Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the District of Connecticut on behalf of investors who purchased Blyth, Inc. (BTH) stock between March 14, 2012 and November 6, 2012. For more information, click here: http://zlk.9nl.com/blyth-bth.
http://online.wsj.com/article/
Blyth withdraws IPO for its nutritional supplement unit, ViSalus Company cites uncertain market conditions for the withdrawal –Blyth’s CEO is “extremely confident” in ViSalus’s long-term growth prospects. Blyth Inc.’s (BTH) nutritional supplement unit, ViSalus Inc., withdrew its plans for an initial public offering, citing uncertain market conditions, a move that comes amid tepid demand for a number of IPOs of late. ViSalus, which focuses on weight management, energy drinks and nutritional supplements, registered for an estimated IPO of up to $175 million last month. Blyth’s shares recently dropped 19% to $26.54 (now even lower)
http://shareholdersfoundation.
Oct. 15, 2012 (Shareholders Foundation) — An investigation on behalf of investors of Blyth, Inc. (NYSE:BTH) shares over potential securities laws violations by Blyth, Inc. and certain of its directors and officers in connection certain financial statements was announced. The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Blyth, Inc. (NYSE:BTH) concerning whether a series of statements by Blyth, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made. Blyth, Inc. (NYSE:BTH) reported that its Total Revenue rose from $796.60 million for the 12 months period that ended on January 31, 2011 to $888.33 million for the 12 months period that ended on December 31, 2011. However, its Net Income declined over the same time periods from $28.03 million to $22.57 million.
http://www.youtube.com/watch?
Visalus Scam BREAKING NEWS! Blyth Visalus IPO canceled – stocks lose 40%. Moody’s downgrades Blyth’s credit to “negative.” SEC investigation and lawsuits over securities laws violations according to Wall Street Journal and MarketWatch.
http://www.marketwatch.com/
Stock prices plummeted more than 40% from a high of $46 in mid-August to $18.
MarketWatch Stock chart:
High: 46.15
Low: 18.69
The Wall Street Journal reported a credit downgrade for Blyth:
“Moody’s Investors Service lowered its credit ratings on Blyth to negative from stable last week, citing continued weakness in its core direct selling candle and home-fragrance business, as well as uncertainty stemming from the IPO of ViSalus. The ratings firm also said the outlook reflects Blyth’s growing reliance upon ViSalus and “the heightened risk profile associated with its business model and the weight-management product category generally in comparison to candles and fragrance products.”
Wall Street Journal September 26, 2012
http://online.wsj.com/article/
In related news:
According to Shareholders Foundation, “Blyth Inc. faces investigation over possible violations of securities laws
“Oct. 15, 2012 (Shareholders Foundation) — An investigation on behalf of investors of Blyth, Inc. (NYSE:BTH) shares over potential securities laws violations by Blyth, Inc. and certain of its directors and officers in connection certain financial statements was announced. The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Blyth, Inc. (NYSE:BTH) concerning whether a series of statements by Blyth, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made. ==
Blyth, Inc. (NYSE:BTH) reported that its Total Revenue rose from $796.60 million for the 12 months period that ended on January 31, 2011 to $888.33 million for the 12 months period that ended on December 31, 2011. However, its Net Income declined over the same time periods from $28.03 million to $22.57 million. On August 3, 2012, Blyth, Inc. (NYSE:BTH) increased its 2012 Earnings guidance. Then on August 16, 2012, ) Blyth, Inc. (NYSE:BTH) announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering (“IPO”) of its Class A common stock. Blyth, Inc. said that following the IPO, Blyth will continue to own over 50% of ViSalus’ common stock. Shares of Blyth, Inc. (NYSE:BTH) increased from $33.47 per share on August 2, 2012 to as high as $45.57 per share on August 20, 2012. Then on September 26, 2012, ViSalus, a subsidiary of Blyth, Inc. (NYSE:BTH), withdrew its initial public offering due to uncertain market conditions.
Shares of Blyth, Inc. (NYSE:BTH) fell from over $45 in August to as low as $24.51 per share on September 27, 2012.”
http://shareholdersfoundation.
In addition to the securities laws investigation, there are SEC filings and developing class action lawsuits against Blyth and ViSalus.
We will keep you informed as this story continues to develop.
http://www.sec.gov/cgi-bin/
