NEW YORK, June 5, 2017 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Herbalife Ltd. (“Herbalife” or the “Company”) (NYSE: HLF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Herbalife and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 5, 2017, Herbalife announced that it was lowering its sales guidance, advising investors that new Federal Trade Commission regulations will have a great impact than expected on the Company’s sales. In addition, multiple news outlets have reported that Mark Friedman, the Herbalife executive involved in a 2016 settlement with U.S. regulators pursuant to which Herbalife agreed to pay $200 million to settle charges of deceiving customers, has stepped down from his position as general counsel.
On this news, Herbalife’s share price fell $4.93, or 6.67%, to close at $68.99 on June 5, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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
[email protected]
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SOURCE Pomerantz LLP