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News Breaks
January 28, 2013
13:34 EDTNUS, HLFFTC alleges Fortune Hi-Tech operated an illegal pyramid scheme
The Federal Trade Commission and the states of Illinois, Kentucky, and North Carolina alleged to a federal court that Fortune Hi-Tech Marketing operated an illegal pyramid scheme. The complaint alleged that FHTM's compensation plan ensured that, at any given time, most participants would spend more money than they would earn. Shares of Herbalife (HLF) and Nu Skin (NUS), two publicly traded multi-level marketing companies, remain in negative territory, as they have been for much of today's session. Shares of Nu Skin are near their lows, down over 5.4% to $42.64, while Herbalife is lower by nearly 8% at $40.12. Reference Link
News For HLF;NUS From The Last 14 Days
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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
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May 14, 2015
19:47 EDTHLFHerbalife responds to court's final approval of class action settlement
Herbalife issued the following statement: “Herbalife welcomes the decision by the U.S. District Court for the Central District of California to grant final approval of the class action settlement in the matter of Dana Bostick v. Herbalife International of America Inc et al. As we have consistently stated, we believe that the settlement is fair, reasonable and adequate to class members, and we note the court found that the low number of claimants was not surprising in light of the substantial survey results indicating that most people join Herbalife to become discount consumers of our products."
May 12, 2015
18:47 EDTHLFCasino union requests Herbalife investigation, Reuters says
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May 11, 2015
10:27 EDTNUSFMR reports 10.64% passive stake in Nu Skin
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