The FBI and federal prosecutors are interviewing people related to hedge-fund manager Bill Ackman for potential Herbalife stock manipulation, reports The Wall Street Journal.
They’ve asked for documents related to the stock. Neither Ackman nor his hedge fund, Pershing Square, have been served with a subpoena.
Ackman has been publicly shorting Herbalife since December 2012. He has said that the multilevel-marketing nutrition firm is a pyramid scheme and that his hedge fund, Pershing Square, is shorting its stock to zero.
Here’s The Journal on exactly what investigators are trying to figure out in this case:
Prosecutors in the Manhattan U.S. attorney’s office and New York field office of the FBI have conducted interviews and sent document requests in recent months in connection with the investigation, which is looking into whether people, including some hired by Mr. Ackman,
Tag Archive for Info
Hot Business News Today
Medifast Drops To Loss In 4th QRTR As Revenue Plunges
by Tina Williams • • 0 Comments
Weight-loss company Medifast Inc. lost more than $3 million over its fourth quarter as revenue plunged more than 11 percent in earnings released Thursday afternoon.
Owings Mills-based Medifast (NYSE: MED) lost $3.4 million, or 28 cents per share, in its fourth quarter ending Dec. 31 — a year after posting a profit of $5.3 million, or 39 cents per share, in the same quarter.
The company shed more than $8 million in revenue year-over-year, posting $62.3 million in the 2014 fourth quarter. Revenue missed Wall Street estimates averaging $69.4 million in analyst polling from Thomson Financial Network and company stock was down more than 8 percent in after-hours trading.
That revenue drop came as Medifast’s two largest moneymaking divisions lost sales. Revenue plunged 12 percent to $45.7 million at the company’s direct sales channel, Take Shape for
Hot Business News Today
Forevergreen February 2015 Sales Up 70% To $5.2 Million
by Nicole Dunkley • • 0 Comments
ForeverGreen Worldwide Corporation (OTCBB: FVRG), a leading direct marketing company and provider of health-centered products, announced today that February 2015 sales increased by 70% when compared to the same month during the prior year.
“For the month of February 2015, sales were approximately $5.2 million compared to about $3 million in February 2014.”
“We are extremely happy to see the continued notable year-over-year growth. Even more intriguing is the increase in daily sales we experienced this past month over January 2015.”
On a per day basis, February sales increased 4% over January sales, a trend we expect to continue over the coming months. The improved logistics and consistency of trackable shipping are continuing to improve net and gross margins.
“We expect March to be the company’s first month with sales in excess of $6 million.
Hot Business News Today
Mannatech Hosts 1,000 Attendees At 2015 Conference
by Nicole Dunkley • • 0 Comments
Mannatech, Incorporated (NASDAQ: MTEX), the founder of the M5MSM (Mission 5 MillionSM) social entrepreneurial movement, the pioneer of nutritional glycobiology and the global innovator of naturally sourced supplements based on Real Food Technology solutions, hosted its annual MannaFest Conference in Frisco, Texas, March 5-8, where more than 1,000 individuals from major global markets gathered to learn more about the role they play in a global “wellness revolution” that Mannatech is leading.
The company’s annual event was a source of information and inspiration for attendees, product enthusiasts, distributors and independent sales Associates for Mannatech. Many of those who attended are entrepreneurs who operate their own businesses in communities around the world.
They heard from the event’s featured speaker, Paul Zane Pilzer, an economist, social entrepreneur and author of nine best-selling books including, The New
Hot Business News Today
Zija International To Hold Grand Opening Event In Korea
by Nicole Dunkley • • 0 Comments
Following a successful pre-launch period in South Korea, Zija International will hold an official grand opening event later this month in Seoul.
The company will highlight the launch of new products, provide training from keynote speakers and local leaders, and recognize its Distributors who are already succeeding at building their business in Korea.
Speakers at the grand opening to include Zija International’s Founder, Ken Brailsford, President and CEO, Rodney Larsen, Vice President of New Market Development, Cathy Yeates, Vice President of Research and Development, Dr. Joshua Plant, Regional Director of Southeast Asia and Korea, Bryant Eggett, and key field leaders including David Moses, Joel McNinch, Takashi Ichikawa, and Thomas Waggoner.
DATE: March 28, 2015
TIME: 14:00 p.m. – 18:00 p.m. (Korea Time)
LOCATION: COEX Auditorium (3fl.) (COEX, World Trade Center Samseong-dong, Gangnam-gu, Seoul 135-731, Korea)
REGISTRATION: Individual
Hot Business News Today
Sandra Cavaqueira Named Director Of MonaVie Europe Events And Marketing
by Tina Williams • • 0 Comments
MonaVie Europe is evolving as a force—a powerful fusion of leadership, passion, and product. Here, leaders are born every day as new distributors are attracted to our premium products and powerful opportunity.
With this growing trend, we realize the need to have a dedicated position with the singular purpose of maximizing new market initiatives and ensuring seamless event coordination. We are therefore thrilled to name Sandra Cavaqueira as the Director of Europe Events and Marketing.
Previously MonaVie Portugal’s General Manager, Sandra’s avid enthusiasm for our distributors coupled with her strong marketing background has helped to build MonaVie Portugal from the ground up, establishing a strong and thriving market.
Having obtained a bachelor’s degree in Chemistry and a master’s degree in Business and Industrial Strategy, Sandra understands the health and wellness industry well. And with the
Hot Business News Today
Brent And Ann Palmer Surpass $1 Million In Earnings At LIMU
by Tina Williams • • 0 Comments
The LIMU Millionaires Club just added more new members, celebrating Brent and Ann Palmer from Florence, Alabama for recently surpassing $1 Million in LIMU earnings.
The Palmers are only the second Promoters to reach the company’s 750K rank, and are among LIMU’s most successful Promoters after only a very short period of time.
“Brent and Ann are exactly the kind of people this industry attracts, a hard-working couple with outstanding values and a daily commitment to helping people,” says Gary J. Raser, Founder, President and CEO of LIMU. “They saw in LIMU a new way to work, a way to get away from the stress of 80-hour weeks and of living paycheck to paycheck. The speed at which they’ve reached one of our highest ranks is impressive, but the fact that their huge success
Hot Business News Today
4Life Welcomes New Brand Ambassadors
by Nicole Dunkley • • 0 Comments
4Life executives announced Major League Baseball (MLB) players Donovan and Jhonatan Solano as the newest members of Team 4Life, a group of internationally renowned athletes who represent 4Life distributors as company brand ambassadors and product advocates.
Donovan and Jhonatan are brothers who grew up in Barranquilla, Colombia, with their parents and 4Life distributors Luis Solano and Myriam Preciado.
As children, they received a lot of encouragement from their father, who was a pitcher, and they played baseball at the Rentería Academy with Edgar Rentería’s nephew. Edgar Rentería, also a Team 4Life member, was the 2010 World Series MVP.
Foundation 4Life, the company’s distributor-driven service arm, has been a long-time partner of the Rentería Baseball Academy in Barranquilla.
In 2005, Donovan was drafted to play for the St. Louis Cardinals as an international free agent.
Hot Business News Today
Herbalife Makes It Into Guiness Book of World Records
by Tina Williams • • 0 Comments
Herbalife, (HLF), a global nutrition company, joined with its members around the world this weekend to create a new GUINNESS WORLD RECORDS® achievement for most participants in a High Intensity Interval Training (HIIT) workout in 24-hours. As part of the event, Herbalife and its members also created a new world record for number of people in a High Intensity Interval Training Workout in one location, with nearly 4,000 people filling the LA Live Plaza in Downtown Los Angeles.
Tens of thousands of independent Herbalife members—along with their customers, friends and family—hosted workouts at local Herbalife nutrition clubs, parks and public meeting spaces across more than 80 countries.
The workout began on Saturday, March 7, at 9:00 a.m. local time in Auckland, New Zealand. Throughout the next 24 hours, workout events were being held in
Hot Business News Today
Reliv Down 19.8% In Q4 – 2014 To $14.1Million
by Nicole Dunkley • • 0 Comments
Reliv International, Inc, a maker of nutritional supplements that promote optimal health, today reported its financial results for the fourth quarter and full year of 2014.
Reliv reported net sales of $14.1 million for the fourth quarter of 2014, compared with sales of $17.4 million for the fourth quarter of 2013. U.S. sales decreased by 19.8 percent for the quarter compared with the same quarter in 2013.
A significant portion of the decline in U.S. net sales was due to a promotion launched in fall 2013 that lowered the sales volume level needed to qualify as a Master Affiliate in the United States.
This resulted in a shifting of and reduction in requalification orders that would normally be received in January 2014 to the fourth quarter of 2013. International sales for the quarter decreased 16.0