September 20, 2016 / 9:47 PM / a year ago

Skincare products maker Nu Skin settles SEC probe

(Reuters) - Nu Skin Enterprises Inc (NUS.N) said it had reached an agreement with the Securities and Exchange Commission to settle a probe into the skincare products maker’s charitable contribution in China in 2013.

The company also forecast third-quarter revenue at the high-end of its previously issued guidance of $560 million-$580 million.

Nu Skin said it agreed to pay $765,688 to the SEC after the agency found the company’s books and internal controls related to the donation were insufficient.

As a part of the agreement, the company neither admitted nor denied the SEC’s findings.

Shares of Nu Skin were up 3.6 percent at $61.00 after the bell.

    Nu Skin said in February that it would pay $47 million to settle a lawsuit that alleged the company operated a pyramid scheme in China and had made false and misleading statements about its operations.

    Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Shounak Dasgupta

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