Youngevity shares revoked following Securities Act violations
Youngevity has had their securities revoked as part of a settlement reached with the SEC.
This includes Youngevity’s shares, which previously traded under the ticker YGYI.
For reasons that haven’t been clarified, Youngevity has failed to file any reports with the SEC since 2020. This resulted in the SEC initiating administrative proceedings against Youngevity in September.
As a result of those proceedings, the SEC determined were warranted against Youngevity for violating the Securities and Exchange Act.
Settlement proceedings between Youngevity and the SEC resulted in the order revoking “of each class of securities of Youngevity International.”
The SEC’s order comes into effect as of December 6th, 2023.
In the lead up to the SEC’s order, Youngevity’s share price had dumpstered 99.95% over the past five years.
Youngevity also recently canned its 8 Minute Trader forex opportunity. Through 8 Minute Trader, Youngevity claimed participants could turn $2500 to over $130,000 within a year.
Notably, 8 Minute Trader was launched during the period Youngevity wasn’t filing with the SEC. In other words, Youngevity never disclosed or registered 8 Minute Trader with the SEC.
That said, whether Youngevity’s issues with the SEC are related to its 8 Minute Trader offering remain unclear.