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Stock Market & Financial Investment News

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January 28, 2013
11:54 EDTHLF, NUSHerbalife, Nu Skin slide after FTC targets 'pyramid scheme' in Kentucky
Shares of multi-level marketers Herbalife (HLF) and Nu Skin (NUS) are sliding after the Federal Trade Commission said on its website that it will co-host a press conference in Lexington, KY, today at 1 p.m. ET with the Kentucky Attorney General's office, to announce a "major action against an allegedly illegal pyramid scheme." Investor Bill Ackman attributed his well-publicized short position in Herbalife to the idea that the company is a pyramid scheme. However, neither Herbalife nor Nu Skin is mentioned in the FTC's announcement nor is either company headquartered in Kentucky. In 2010, USA Today said Kentucky Attorney General Jack Conway's office was investigating multi-level marketing company Fortune Hi-Tech, citing former managers of the company. Conway's office did not confirm or deny an investigation into Fortune Hi-Tech, the report noted, but did say Fortune could violate Kentucky's anti-pyramid scheme law if product sales alone couldn't "sustain the people at the lower end of the chain." The Fly notes that Fortune Hi-Tech has its headquarters in Lexington, KY, according to the company's corporate website. In late morning trading, shares of Herbalife are down $2.74, or 6.29%, to $40.85, while Nu Skin is down $1.75, or 3.88%, to $43.33. Reference Link
News For HLF;NUS From The Last 14 Days
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September 22, 2014
18:18 EDTHLFOn The Fly: After Hours Movers
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18:12 EDTHLFHerbalife reverses in after-hours trading, up 2.6%
16:17 EDTHLFIcahn has not sold any of Herbalife position, Gasparino says
Carl Icahn has not sold out of his stake in Herbalife, according to sources close to the matter, reported Fox Business' Charles Gasparino on Twitter.
15:54 EDTHLFHerbalife drop attributed to rumor of Icahn liquidating stake, Kass says
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15:52 EDTHLFHerbalife volatility spikes on wide price movement
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15:46 EDTHLFHerbalife drops over 13% to $38.90
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September 15, 2014
12:14 EDTHLFHerbalife expands partnership with American Youth Soccer Organization
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September 14, 2014
16:17 EDTHLFHerbalife near settlement with former distributors, NY Post says
Herbalife is close to reaching a settlement with five former distributors that allege the nutrition company is a pyramid scheme and has victimized thousands, says the NY Post. Reference Link

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