Youngevity has had their securities revoked as a part of a settlement reached with the SEC.
This consists of Youngevity’s shares, which beforehand traded underneath the ticker YGYI.
For causes that haven’t been clarified, Youngevity has did not file any stories with the SEC since 2020. This resulted within the SEC initiating administrative proceedings in opposition to Youngevity in September.
On account of these proceedings, the SEC decided have been warranted in opposition to Youngevity for violating the Securities and Trade Act.
Settlement proceedings between Youngevity and the SEC resulted within the order revoking “of every class of securities of Youngevity Worldwide.”
The SEC’s order comes into impact as of December sixth, 2023.
Within the lead as much as the SEC’s order, Youngevity’s share value had dumpstered 99.95% over the previous 5 years.
Youngevity additionally not too long ago canned its 8 Minute Dealer foreign exchange alternative. By means of 8 Minute Dealer, Youngevity claimed individuals may flip $2500 to over $130,000 inside a 12 months.
Notably, 8 Minute Dealer was launched throughout the interval Youngevity wasn’t submitting with the SEC. In different phrases, Youngevity by no means disclosed or registered 8 Minute Dealer with the SEC.
That stated, whether or not Youngevity’s points with the SEC are associated to its 8 Minute Dealer providing stay unclear.