Best World

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I suggest it is better for BWI to buy some "similar" insurance instead of share buy back..............

Nu Skin said the settlement is expected to be paid by its insurance company and therefore does not expect it to affect earnings.
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Nu Skin Pays $47M To End Investor Row Over China Ops

https://www.law360.com/articles/764650/n...-china-ops


By Y. Peter Kang
Law360, Los Angeles (February 26, 2016, 10:11 PM EST) -- Nu Skin Enterprises Inc. agreed to pay $47 million to resolve a putative shareholder class action accusing the multilevel marketing provider of skin care products of misleading investors about the legality of its operations in China, according to documents filed Friday with securities regulators. 
Under terms of the settlement, which were revealed in a U.S. Securities and Exchange Commission filing, the company agreed on Feb. 22 to pay $47 million to end claims brought by investors who purchased Nu Skin stock from May 2011 to January 2014. Nu Skin said the settlement is expected to be paid by its insurance company and therefore does not expect it to affect earnings.

The proposed deal, which requires court approval, is not an admission of any wrongdoing on Nu Skin’s part, according to the filing. On Thursday, the parties jointly withdrew the investors’ motion for class certification, saying they had reached a deal in principle and expect to ask the court to approve the settlement in the coming weeks, according to Utah federal court records.

Representatives for the parties didn’t immediately respond to requests for comment Friday.

If approved, the deal would end a consolidated securities suit filed in January 2014accusing Nu Skin of concealing that its China operations were running afoul of the country's law.

The complaint alleges the Provo, Utah-based company, which is heavily dependent on China for a significant amount of its growth and revenue, issued glowing statements on multiple occasions about its rising sales in Greater China, but hid its fraudulent sales practices and noncompliance with Chinese law.

Shareholders said the truth emerged when China’s People’s Daily newspaper, which serves as a mouthpiece for the country’s ruling communist party, published a report in January 2014 saying that Nu Skin is operating in violation of Chinese law and is suspected to be an illegal pyramid scheme.

The state-backed paper further claimed that Nu Skin brainwashes its trainees and is selling 20 more products than allowed by the Chinese government. Following the report’s publication, China’s State Administration for Industry and Commerce announced an investigation into Nu Skin, according to the complaint.

One day later, China’s Ministry of Commerce said it was also investigating Nu Skin, the investors said. News of the Chinese probes caused Nu Skin’s stock to tank by 44 percent, according to the suit.

In Friday’s filing, Nu Skin said it expects final court approval of the settlement by mid-2016.

The proposed class is represented by Jonathan Gardner, Mark S. Goldman and Christine M. Fox of Labaton Sucharow LLP and Heidi G. Goebel of Goebel Anderson PC.

Nu Skin is represented by James G. Kreissman and Alexis Coll-Very of Simpson Thacher & Bartlett LLP and Robert S. Clark and Daniel E. Barnett of Parr Brown Gee & Loveless.

The case is Freedman v. Nu Skin Enterprises Inc. et al., case number 2:14-cv-00033, in the U.S. District Court for the District of Utah.
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.
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This should be the correct definition of 传销 in China which I have mentioned many times before.
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湖南各地严打传销犯罪活动:捣毁窝点数百个
2017-08-16 17:32:07 来源:红网 作者:肖凤姿 李洁 编辑:高芹 红网官方微博

http://hn.rednet.cn/c/2017/08/16/4395229.htm


【律师解答】
  近期,连续曝出的传销骗局持续引发舆论关注。那么,该如何判断经营主体是否涉嫌传销,确保自己及家人不被卷入传销骗局呢?
  湖南弘一律师事务所律师殷倩表示,判断某经营主体是否涉嫌传销,需要了解其经营行为的具体运作模式。《禁止传销条例》第二条明确了传销的定义:组织者或者经营者发展人员,通过对被发展人员以其直接或者间接发展的人员数量或者销售业绩为依据计算和给付报酬,或者要求被发展人员以交纳一定费用为条件取得加入资格等方式牟取非法利益,扰乱经济秩序,影响社会稳定的行为。
  《禁止传销条例》第七条规定,下列行为,属于传销行为:
  (一)组织者或者经营者通过发展人员,要求被发展人员发展其他人员加入,对发展的人员以其直接或者间接滚动发展的人员数量为依据计算和给付报酬(包括物质奖励和其他经济利益,下同),牟取非法利益的;
  (二)组织者或者经营者通过发展人员,要求被发展人员交纳费用或者以认购商品等方式变相交纳费用,取得加入或者发展其他人员加入的资格,牟取非法利益的;
  (三)组织者或者经营者通过发展人员,要求被发展人员发展其他人员加入,形成上下线关系,并以下线的销售业绩为依据计算和给付上线报酬,牟取非法利益的。
  殷倩律师提醒网友,凡是以“拉人头”、“骗取入门费”、“团队计酬”方式牟取非法利益的行为均涉嫌传销,请不要上当。
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.
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I really mean to learn
'Cause we're living in a world of fools
Breaking us down when they all should let us be

I believe in you
You know the door to my very soul
You're the light in my deepest, darkest hour
You're my savior when I fall
And you may not think I care for you
When you know down inside that I really do
And it's me you need to show

How deep is your love?

You come to me on a summer breeze
Keep me warm in your love, then you softly leave

How deep is you love?

Thank you Boon, you're the best!
宝贝 加油! 用心生活.

Just a reminder for our valuebuddies to read:

link
感恩 26 April 2019 Straco AGM ppt  https://valuebuddies.com/thread-2915-pos...#pid152450
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Dora and Doreen both bought 200k shares each. Best World did share buybacks as well. Trying to calm the shareholders?
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I really appreciate those that contribute a lot to the discussion of this group, particularly Boon for his deep insight into the business model of Best World.

An interesting article posted in Best World wechat group.
http://mp.weixin.qq.com/s/tY9JBRv_0KZoMRwBpomZ3g

发展下线是不是传销?央视发话:发展下线也是合法销售 这下你不服都不行
2017-08-18 SGP全美世界皙之密
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(15-08-2017, 05:19 PM)moneyspinner Wrote:
(15-08-2017, 04:20 PM)Squirrel Wrote:
Best World has made an announcement stating that they are fully compliant. I won't expect them to declare otherwise.

http://infopub.sgx.com/FileOpen/2017%200...eID=467209

Best World' s fast response to share price fall today:

infopub.sgx.com/FileOpen/2017%2008%2015%...cement& FileID=467209  

In summary, key points of the SAIC statement include, but are not limited to the following:

1. The clear objective to crackdown on pyramid selling schemes disguised as investment opportunities, job offers, job referrals and recruitment activities, especially those targeted at new graduates 

2. Investigate major recruitment websites and establish clearer legal responsibilities of
businesses, organizations and individuals that operate such websites 

3. Businesses, organizations and individuals involved in the dissemination of such false
information shall be severely dealt with and

4. Increase the awareness of pyramid selling schemes amongst students.


For the purpose of clarification, hallmarks of a pyramid scheme are as follows:

1. Companies which profit from act of recruitment and not sale of products or services 

2. Low quality products sold at a high price 

3. Products purchased are not for consumption but as a requirement to participate in the scheme 

4. Products are sold without a reasonable product return guarantee and

5. High startup/entry fee to participate in the scheme.

In response, the Company would like to highlight that although we hold a direct selling licence, we have not converted our business in China to direct selling yet. Presently all DRs&rsquo Secret, Avance and Optrimax products are available for purchase by customers through DRs&rsquo Secret outlets and workshops. As such, the above SAIC statement has little or no impact to our China business.

The Company also wishes to highlight that all current preparations for conversion to direct selling are in line with the above SAIC statement. All service outlets set up are subject to verification by local authorities beforehand and are not within or near to any school compound.

Our membership criteria, upon conversion to direct selling, shall also not accept students, civil servants, police and military personnel etc.

The Company would like to reiterate that it adheres to strong principles of legal business, transparency and corporate governance and is fully compliant with the rules and regulations of business operations under China&rsquo s laws.

"All service outlets set up are subject to verification by local authorities beforehand and are not within or near to any school compound.

"Our membership criteria, upon conversion to direct selling, shall also not accept students, civil servants, police and military personnel etc."

What is the purpose of misleading investors by not defining 传销 in accordance to the correct Chinese laws ?

What is the logic of excluding students from being a member? Just because students happened to be victims of recent scam? To show that BWI is a good corporate citizen?

Hence, all services outlets set up are not within or near any school.

Students are still students when they go home.
 
Should all services outlets be then set up away from home? 

Sounds logical?
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.
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For those who read Chinese

http://mp.weixin.qq.com/s/tY9JBRv_0KZoMRwBpomZ3g
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(18-08-2017, 01:27 PM)DCF Wrote: For those who read Chinese

http://mp.weixin.qq.com/s/tY9JBRv_0KZoMRwBpomZ3g

Until the laws have been changed, it's all speculations...............
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.
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Due to recent postings here, the thread will be temporarily closed pending review of the moderators.

A reminder that out of topic discussion is not advised.
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Hi all VBs,

I hope that the weekend has been kind to all of us - having time aside to spend with those that really matters. In view of all that has happened in the BW thread in the last 1 week, the moderators (cyclone, CY09, weijian) have discussed and agreed to take the below actions:

(1) All out of topic posts (of the last 1 week) in which the main message/spirit of the post does not involve BW's business/value/prospects, have been deleted.
(2) We have implemented a time suspension of 1 week against those whom have ignored Moderator's last warning on "out of topic" posts.

Finally a few notes:
- In the spirit of a free public sphere to discuss on investments, Valuebuddies allow users to publish posts freely without the need of going through a moderation unless they are first time posters. We hope members do not abuse this privilege by publishing posts which attacks the character of other users or are defamatory in nature. This is against the spirit of creating a quality investing forum. The moderators will not hesitate to warn or take actions against such users.

- By opening this thread again, we hope for a healthy discussion on BW's business/value/prospects. There will be no further warning to anyone who gets personal or OOT again. It will incur a time suspension or full ban, as per Moderator's discretion.

- Whenever there is an urge for an instant reaction - take a 5 min cooling period and decide whether you want to do it again. Most of us do this in real life, I think we can do it online as well. Our online persona is the reflection of who we really are.

- Warren Buffett's advice on reputation couldn't be more apt - "It takes 20 years to build a reputation, and 5 mins to ruin it"
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