Nutrition for Life agrees to pay up to $4.3 mil. to settle class action suits.
This article was originally published in The Tan Sheet
Executive Summary
NUTRITION FOR LIFE AGREES TO PAY UP TO $4.3 MIL. TO SETTLE SUITS filed in Texas federal and state courts in August 1996. The Houston-based multi-level supplements marketing company announced Feb. 4 that it has submitted two preliminary settlement agreements to the Houston federal court that, if approved, would resolve two class action suits charging that the firm operated an illegal pyramid scheme, neglected to disclose the criminal background of Kevin Trudeau, one of its key employees, and issued inaccurate financial information that caused stock prices to inflate artificially.