Tag Archive for Herbalife

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Tables Turn In Ackman VS Herbalife Battle

by Tina Williams • September 20, 2015 • 0 Comments

Bronte Capital, an Australian-licensed and USA-registered fund manager, posted on its blog a response from the Securities and Exchange Commission to a Freedom of Information Act (FOIA) requesting any documents pertaining to “investigative market manipulation in Herbalife stock by or on behalf of Pershing Square.”
The SEC refused to respond to the request and stated that it the agency can withhold records if it is “compiled for law enforcement purposes.” However, the letter does go on to note that by withholding documents, Pershing Square, or any related parties, is not necessarily being investigated for any violations.

The SEC’s statement made it clear: “The assertion of this exemption should not be construed as an indication by the Commission or its staff that any violations of law have occurred with respect to any person, entity, or security.”

In an

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FTC Answer On Pyramid Definition: “I Have Nothing For You”

by Ted Nuyten • September 16, 2015 • 0 Comments

New York Times reporter Joe Nocera published the next story under the title “The Pyramid Scheme Problem”:
“I have nothing for you,” said Frank Dorman, a spokesman for the Federal Trade Commission. “Lots of reporters have asked that question. Our final response is, We’re not going to answer it.”
What had I asked that was so sensitive that the F.T.C. wouldn’t respond? I had requested that the agency explain what distinguished an illegal “pyramid scheme” from a legal multilevel marketing company.
What had prompted my question were two recent events. In late August, the F.T.C. had gotten an injunction issued against a multilevel marketing company called Vemma Nutrition, claiming it was in fact a pyramid scheme.
And last week, Fortune magazine published a lengthy story by Roger Parloff about William Ackman’s nearly three-year battle to force

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Herbalife Kicks Off Triathlon Season With Sponsorships

by Tina Williams • September 14, 2015 • 0 Comments

Global nutrition company Herbalife(HLF) kicked off a busy triathlon season this past weekend as part of a larger year-long sponsorship of major endurance events across the United States.

“We are excited to once again be involved in the sponsorship of triathlons across the country,” said Michael Johnson, chairman and CEO, Herbalife. “The endurance community is one we have a longstanding relationship with, both through the events we are involved with around the world, and the successful athletes who benefit from our sports nutrition products.”

For the eighth straight year, Herbalife was a sponsor of the LA Triathlon at Torrance Beach. As this year’s “Official Fluid Replacement” provider for the LA Triathlon, Herbalife provided its recovery and hydration products to athletes to ensure participants received the nutrition needed to complete the triathlon. More than a thousand triathletes and approximately

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Herbalife Launches Second Attack On Bill Ackman

by Tina Williams • September 11, 2015 • 0 Comments

Fox Business Reports: Herbalife, (HLF) the embattled nutritional supplements company, has released its second attack-video against its chief nemesis, Bill Ackman, accusing the hedge fund billionaire of enriching himself through activist campaigns that lead to massive layoffs at his targeted companies, the Fox Business Network has learned.

“Billionaire Bill Ackman would like us to believe his corporate raiding has a higher purpose than mere wealth accumulation but for the tens of thousands of employees who lost their jobs because of his meddling he is probably more prince of darkness than white knight,” the video states.

The video is the second to be featured on the firm’s recently launched website, which also contains various stories about the short-seller’s attacks against the company.
An Herbalife spokesman had no comment; neither Ackman nor a spokeswoman for his Pershing Square hedge

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Could Herbalife Be Next? ValueWalk Speculates

by Tina Williams • August 26, 2015 • 0 Comments

ValueWalk reports: Herbalife Ltd. (NYSE:HLF) is one of Wall Street’s favorite controversies, and now it seems like there could be another problem on the company’s plate. Although it isn’t directly impacting Herbalife right now, it could at some point in the future, as the company has admitted to being under investigation by the Federal Trade Commission.
FTC moves against Vemma Nutrition
The FTC is now seeking an injunction against Vemma Nutrition, another multi-level marketing company which sells some products that are similar to those sold by Herbalife. Unfortunately for Herbalife, its business practices (some past and some present) seem to be in some ways similar to Vemma’s practices. ValueWalk contacted a pyramid scheme expert who found three areas of concern for Herbalife in the case filed against Vemma.

Court documents reviewed by ValueWalk (Hat tip to Quoth the Raven)

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Herbalife Beating Wall Street Odds In 2nd Quarter

by Tina Williams • August 7, 2015 • 0 Comments

USA Today reports: Shares of Herbalife shot up more than 7% in late trading Wednesday after the energy drink company posted better-than-expected financial results for the second quarter.
Herbalife, which has been waging an ugly battle with billionaire Bill Ackman over the legitimacy of its business, posted profits of $1.24 a share on $1.16 billion in sales.
Sales were down 11% from a year earlier due to “unfavorable” currency exchange rates in certain markets, the company said. Still, Herbalife shares shot up close to 8% in after-hours trading because Wall Street analysts had expected the company to post earnings of $1.11 a share on revenue of $1.14 billion.
Ackman, founder of hedge fund Pershing Square Capital Management, placed a $1 billion bet on the stock’s decline in 2012 on the theory that Herbalife is a pyramid scheme — an allegation the company denies.
Ackman shorted the stock at around $47 a share and came close to

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Top Member Of Herbalife’s Legal Team Leaves Company

by Tina Williams • August 6, 2015 • 0 Comments

The NY Post reports: A top member of Herbalife’s legal team has left the building.
Jim Berklas, who was the associate general counsel and chief compliance officer of the Los Angeles company, on Monday joined the Barnes Group, a Connecticut aviation company.
Berklas spent seven years with the diet shake seller that activist Bill Ackman has bet $1 billion is a pyramid scheme.
Herbalife has vehemently denied the accusation.
The exit of Berklas comes less then three months after Herbalife disclosed a criminal probe into its business practices and said a number of top executives and distributors have been subpoenaed by the Department of Justice.
At least one of those distributors, a veteran member of its 60-person “Chairman’s Club,” has become a whistleblower with law enforcement, The Post has learned.
Berklas is the first senior exec to leave Herbalife

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Herbalife Q2 Revenue Down 11% To $1.2 Billion

by Ted Nuyten • August 6, 2015 • 0 Comments

Herbalife Ltd. (NYSE: HLF) reported second quarter net sales of $1.2 billion. Local currency net sales grew by 1%, while reported net sales declined 11% primarily due to the continuing unfavorable impact of currency exchange rates.
Adjusted1 earnings for the quarter were $1.24 per diluted share compared to $1.55 per diluted share for the same period in 2014.
On a reported basis, second quarter net income was $82.8 million, or $0.97 per diluted share, compared to $119.5 million, or $1.31 per diluted share for the same period in 2014. Second quarter 2015 diluted EPS was negatively impacted by a $0.412 currency fluctuation.
For the quarter ended June 30, 2015, the company generated $197.6 million in net operating cash flow, and invested $16.2 million in capital expenditures.
The company is raising its adjusted diluted EPS

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Herbalife Wins Dismissal Of ‘Pyramid Scheme’ Lawsuit

by Tina Williams • August 2, 2015 • 0 Comments

BisJournals.com reports:
A federal judge has once again dismissed a lawsuit accusing nutritional products maker Herbalife Ltd. of misrepresenting its business structure and sales practices as legitimate when it amounted to a pyramid scheme, a charge the the company has denied.
U.S. District Judge Dale Fischer in Los Angeles on Tuesday said the plaintiffs, led by the Oklahoma Firefighters Pension and Retirement System, did not show that Herbalife(NYSE: HLF) or its chief executive, Michael Johnson, defrauded shareholders, according to Reuters.
Fischer in March had dismissed an earlier version of the lawsuit.
Shareholders had filed suit claiming they lost money after billionaire hedge fund manager William Ackman accused Herbalife of operating a pyramid scheme. In December 2012, Ackman said his firm, Pershing Square Capital Management LP, had made a $1 billion bet that Herbalife’s stock price would fall.
Fischer in his dismissal of the lawsuit in March said Ackman’s

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Herbalife Joins Hispanic Association On Corporate Responsibility

by Tina Williams • June 9, 2015 • 0 Comments

Global nutrition company Herbalife is proud to join the Hispanic Association on Corporate Responsibility (HACR) as a Corporate Member. HACR seeks to advance the inclusion of Hispanics in corporate America. As a Corporate member, Herbalife is committed to supporting Hispanic leadership and promoting an inclusive work environment while continuing efforts to make Latino communities healthier.

“As a company proudly invested in the Latino community, and one that recognizes the talent and power of Hispanics in the United States, Herbalife is excited to be part of the Hispanic Association on Corporate Responsibility,” said Ibi Fleming, Herbalife senior vice president and managing director of the North America region.
“Hispanic inclusion is in our corporate DNA and we are eager to work with HACR to continue advancing Hispanic leaders in the workplace.”

About Herbalife:
Herbalife is a global nutrition

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