SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Herbalife Ltd. ...
April 16 2014 - 3:04PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Central
District of California on behalf of purchasers of Herbalife Ltd.
("Herbalife" or the "Company") (NYSE:HLF) securities during the
period between May 4, 2010 and April 11, 2014, inclusive (the
"Class Period").
If you have suffered a loss from investment in Herbalife
securities purchased on or after May 4, 2010 and held through the
revelation of negative information during and/or at the end of the
Class Period, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
financial obligation, click here:
http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Attorneys at Brower Piven together have more than a
century of experience litigating securities and other class action
cases.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than June 13, 2014 and be selected by the Court.
The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and
how much of a settlement to accept for the Class in the action. The
lead plaintiff will be selected from among applicants claiming the
largest loss from investment in Company units during the Class
Period.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants'
failure to disclose during the Class Period that the Company's
operations were based on a pyramid scheme whereby its distributors
generate revenue by recruiting other distributors rather than
selling Herbalife's diet and nutritional products to the general
public. According to the complaint, following the December 19,
2012, CNBC report that Bill Ackman ("Ackman"), Founder and Chief
Executive Officer of Pershing Square Capital Management, L.P.
("Pershing") considers Herbalife to be a pyramid scheme after
spending a year researching the Company's fundamentals, the
December 20, 2012, presentation concerning Herbalife at the Sohn
Investment Conference where Ackman affirmed his conclusion that
Herbalife is a pyramid scheme as its distributors make more money
by recruiting other distributors than selling the Company's
products to the general public and that since the founding of the
Company, approximately 1.9 million distributors have failed to make
any money from selling Herbalife products, the January 23, 2014
letters sent by U.S. Senator Edward J. Markey of Massachusetts to
federal regulators, including the SEC and the FTC, urging them to
investigate Herbalife, and the April 11, 2014, Financial Times
report that the United States Department of Justice and Federal
Bureau of Investigation had opened a criminal probe of Herbalife,
the value of Herbalife shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this
time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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