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Stock Market & Financial Investment News

News Breaks
April 24, 2014
06:34 EDTHLFHerbalife says ABC report raises questions Ackman should answer
Herbalife issued a statement regarding a recent report from ABC News. The company said, "ABC News has revealed new information regarding Bill Ackman’s, Founder and CEO of Pershing Square Capital, unprecedented $1 billion campaign to manipulate Herbalife’s stock to the detriment of Herbalife’s shareholders, customers and employees. Mr. Ackman’s campaign, part of which was uncovered by ABC News, is losing its credibility with each passing day. The previously unreported information includes confirmation that Mr. Ackman has spent more than $20 million to date on his campaign...The ABC News story raises a number of important questions that Mr. Ackman should answer fully and honestly: How has Mr. Ackman spent the $20 million? Who else has Mr. Ackman or his team of agents and consultants made payments to, directly or indirectly, or made future contingency payment offers to? Did Mr. Ackman disclose his financial inducement with these individuals when lobbying state and federal regulators and lawmakers?...Additionally, as noted in the ABC News report, Herbalife is explicit with its members that “products are not intended to diagnose, treat, prevent or cure any disease or medical condition, and under no circumstances should there be any statements, advertising or implications to the contrary...Enforcement of the rules of conduct is a top priority at Herbalife, and we investigate and take all claims seriously. The Company has a compliance team of more than 300 people worldwide that monitors members’ activity and enforce Herbalife's rules."
News For HLF 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."

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