Herbalife Ltd. (HLF) Reaches $15M Settlement In Alleged Pyramid Scheme

Mani

Published onNovember 3, 2014

Updated on May 13, 2021

Herbalife Ltd. (NYSE:HLF) revealed in a U.S. court filing that it would pay $15 million to settle a class action lawsuit brought by a former distributor claiming the company is running a pyramid scheme.

The settlement also requires the nutrition and supplements company to make numerous changes to its business model.

Allegations against Herbalife

In April last year, Dana Bostick, a former salesman, filed a lawsuit against Herbalife Ltd. (NYSE:HLF) contending that he and hundreds of thousands of other distributors have failed to make much money by trying to sell the products. He alleged that the company was...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Herbalife Ltd. (HLF) Reaches $15M Settlement In Alleged Pyramid Scheme

Allegations against Herbalife

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