Monthly Archives: August 2014

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Australia Sues Lyoness With Pyramid Allegations

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The Australian Competition and Consumer Commission (ACCC) has instituted proceedings against Lyoness International AG, Lyoness Asia Limited, Lyoness UK Limited and Lyoness Australia Pty Limited (together ‘Lyoness’) for operating a pyramid selling scheme and engaging in referral selling.
Although Lyoness has been investigated by regulators for conduct in other countries, this is the first court action taken against Lyoness alleging that the Lyoness Loyalty Program constitutes a pyramid scheme.
Pyramid schemes involve new participants providing a financial or other benefit to other existing participants in the scheme.  New participants are induced to join substantially by the prospect that they will be entitled to benefits relating to the recruitment of further new participants. Pyramid schemes may also offer products or services, but making money out of recruitment is their main aim, and often the only way for a member to recover any money is to convince other people to join up.  In contrast, people in legitimate multi-level marketing schemes earn money by selling genuine products to consumers, not from the recruiting process.
The ACCC alleges that Lyoness has operated the scheme in Australia from mid-2011 and that it continues to operate the scheme. The scheme offers ‘cash back’ rebates to members who shop through

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ForeverGreen Announces Accelerated Growth In Europe And Asia

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ForeverGreen Worldwide Corporation (FVRG) announced that growth is accelerating in several geographic regions, especially Europe and Asia.
“Several key indicators for Europe are trending strongly upward during the last several months.
Our auto-ship orders, a key measure of brand loyalty and retention, have grown 64% since March. Total European sales have also grown significantly during this same time frame and now represent 36% of the companies’ overall sales. I firmly believe that ForeverGreen Europe is positioned to continue its growth both in terms of sales and customer retention.
We are working on several internal initiatives to make this possible, such as local distribution and the merger of the FG and FGX models. I could not be more confident of the direction we are headed and the initiatives in place to ensure continued upward growth,” stated Blake Schroeder, President of ForeverGreen Europe.
Bob Mower Steed, President of ForeverGreen Asia Pacific, has recently moved to Hong Kong to oversee the dynamic markets in the Far East.
“I was told many years ago that if you want to be an active participant instead of a casual observer that you need to ‘put your face in the place.’ ForeverGreen Asia is experiencing unprecedented growth, and I jumped at the chance

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Nature’s Sunshine Announces Closing Of Strategic Alliance With Fosun Pharma

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Nature’s Sunshine Products, Inc. a leading natural health and wellness company engaged in the manufacture and direct selling of nutritional and personal care products, today announced the closing of its previously announced China joint venture with Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and private placement transaction of 2.854 million shares of common stock, representing approximately 15% of Nature’s Sunshine’s outstanding common shares, to Fosun Pharma at a price of $16.19 per share. Aggregate proceeds to Nature’s Sunshine were approximately $46.2 million.
“Our strategic alliance with Fosun Pharma is the first of its kind between a U.S. company and a Chinese company for direct selling products in China,” commented Gregory L. Probert, Chairman and Chief Executive Officer of Nature’s Sunshine Products. “Our entry into China marks the beginning of a valuable long-term partnership with Fosun Pharma, as well as a significant step forward as a global organization. As part of our go-to-market strategy, we are focused on completing the regulatory approvals process, establishing the necessary legal entities, recruiting key staff, and moving forward with products to market through a multi-brand, multi-channel approach. We look forward to working with Fosun Pharma to capture the vast opportunity ahead.”
The joint venture, known as Nature’s

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