Select Page

NEW YORK, Sept. 08, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Herbalife Nutrition Ltd. (“Herbalife” or the “Company”) (NYSE: HLF). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Herbalife and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action]On May 7, 2020, Herbalife filed its quarterly report for the first quarter of 2020 with the U.S. Securities and Exchange Commission (“SEC”). In its quarterly report, Herbalife advised investors that the Company had “reached an understanding in principle” to resolve bribery investigations by both the SEC and Department of Justice (“DOJ”) in connection with Herbalife’s China operations. Per the agreement, Herbalife stated that it “would enter into an administrative resolution with the SEC with respect to alleged violations of the books and records and internal controls provisions of the FCPA [Foreign Corrupt Practices Act]”; “would separately enter into a deferred prosecution agreement (“DPA”) with DOJ, under which DOJ would defer criminal prosecution of the Company for a period of three years”; and “would agree to pay the SEC and DOJ aggregate penalties, disgorgement and prejudgment interest of approximately $123 million.” Then, on August 28, 2020, the SEC accepted the Offer of Settlement and issued an administrative order finding that the Company violated the books and records and internal controls provisions of the FCPA. That same day, the Company and DOJ separately entered into a court-approved DPA under which DOJ deferred criminal prosecution of the Company for a period of three years related to a conspiracy to violate the books and records provisions of the FCPA. During the three-year period, the Company is required to among other things, undertake compliance self-reporting obligations. If the Company remains in compliance with the DPA during its three-year term, the deferred charge against the Company will be dismissed with prejudice. The Company has also agreed to pay the SEC and DOJ aggregate penalties, disgorgement, and prejudgment interest of approximately $123 million. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980