New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 28, 2013
11:54 EDTNUS, HLFHerbalife, 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
Sign up for a free trial to see the rest of the stories you've been missing.
May 19, 2015
12:16 EDTHLFFTC, states charge four cancer charities as shams
The Federal Trade Commission and 58 law enforcement partners from every state and the District of Columbia have charged four sham cancer charities and their operators with bilking more than $187M from consumers. Named in the federal court complaint are Cancer Fund of America, Cancer Support Services, Children’s Cancer Fund of America and The Breast Cancer Society. Shares of Herbalife (HLF) and Lumber Liquidators (LL) weakened intraday yesterday as speculation circulated about whether either of the companies would be the target of the FTC's announcement today.
May 18, 2015
12:12 EDTHLFHerbalife dips after FTC says to announce 'major consumer fraud' case
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use