Herbalife Mum On ‘Attacks’ As It Trumpets ‘Foundation’ For Growth
This article was originally published in The Tan Sheet
The direct seller, reporting its first-quarter earnings, also notes a bank’s “vote of confidence” in extending the maturity date of its revolving credit facility. Its adjusted net income, due to foreign currency impact, was down 28% to $108.8 million, or $1.29 EPS.
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In addition to imposing a $200m fine, the settlement requires the direct seller to determine compensation for its distributors based on actual retail sales, rather than on the number of additional distributors they bring into their networks, and to show at least 80% of its revenues are to end-users.
So full of errors were the firm's online ads for its Plavinol supplement, the National Advertising Division noted support for some claims contained "many of the same flaws" as others. The prevalence of problems prompted NAD to go outside its "scope of review" and note unclear instructions on Plavinol labels.