Monthly Archives: June 2015

Tami Longaberger Battles CVSL Over Exit

 
Tami Longaberger’s departure from the basket-making company that her father founded has turned into a heated battle between her and CVSL, parent of the Longaberger Co.
Longaberger said CVSL failed to pay sales and use taxes and drastically cut her pay, while CVSL charged Longaberger with misconduct, according to a filing with the U.S. Securities and Exchange Commission.
The two sides also can’t agree on whether Longaberger, who left the company in early May, was fired or resigned.
Longaberger says in a resignation letter dated April 28 that she was resigning due to three reasons:

CVSL reduced her salary of $850,000 per year by $600,000 during a four-month “deferral period” that was never made up.
CVSL reduced her responsibilities and put another executive in charge at the Longaberger Co.
CVSL caused the Longaberger Co. to fail to pay sales and

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Peruvian Direct Selling Supplier Acquired

 
ACON Investments, L.L.C. announced today that it has completed the acquisition of a leading supplier of the direct selling industry in the Andean Region.
Pieriplast S.A.C., a Peruvian supplier of luxury high-end, customized packaging solutions for the direct sales cosmetics industry, along with Intecplast S.A.S., a leading Colombian rigid plastic packaging manufacturer focused on personal care, cosmetics and pharmaceuticals will be consolidated under a new holding company, Amfora Packaging S.A.S to form one of the largest pan-Andean plastic packaging companies with over 800 employees and production facilities in Lima, Peru and Bogota, Colombia.
ACON’s investment in Amfora supports the existing management of Intecplast and Pieriplast. Mr. Jose Alejandro Arango, the CEO of Intecplast, will become Amfora’s CEO and Mr. Renato Pierinelli, founder and former CEO of Pieriplast, will retain an important equity stake in Amfora and will become both

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