The U.S. Securities and Exchange Commission (SEC) has revoked all classes of Youngevity International's securities, effective December 6, 2023. This action stems from the company's repeated failure to file mandatory reports with the agency, a lapse that began in 2020. The SEC initiated administrative proceedings in September, concluding that Youngevity had violated the Securities Exchange Act.
Youngevity's securities, previously traded under the ticker symbol YGYI, will no longer be available on public markets. The SEC's order mandates the revocation of each class of Youngevity International's securities. This regulatory action effectively halts any further trading of the company's stock.
The company's non-compliance with SEC reporting requirements continued for over three years. These filings are critical for maintaining a company's status as a public entity. The SEC's decision follows a period where Youngevity's share price plummeted by nearly 100%.
In recent months, Youngevity also discontinued its "8 Minute Trader" forex program. This offering promised participants could transform an initial $2,500 investment into over $130,000 within a year. The launch of 8 Minute Trader occurred during the same timeframe Youngevity failed to file reports with the SEC.
There has been no disclosure or registration of the 8 Minute Trader program with the SEC. It remains unclear whether Youngevity's current legal troubles are directly linked to this specific forex offering. The SEC has not elaborated on the precise nature of the violations beyond the failure to file required disclosures.