Mr. Pink's Picks: selected event-driven value investments Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: StockDung	1/12/2017 7:29:35 AM
	Read Replies (1) of 18998

Herbalife pays up after being accused of pyramid scheme By Carleton English January 10, 2017 \| 11:49pm \| Updated Michael O. Johnson, founder of Herbalife.Getty Images Checks are in the mail for nearly 350,000 people who said they lost money trying to run an Herbalife business, the Federal Trade Commission said Tuesday. The checks are being sent to distributors who paid at least $1,000 to Herbalife between 2009 and 2015 and “got little or nothing back from the company.” Most of the checks are for between $100 and $500. In July, the company settled with the FTC to the tune of $200 million, ending a controversy-laden two-year probe into whether it was a pyramid scheme. Even as the money flowed to victims, critics lashed out at the FTC. Some Herbalife distributors who recruited other members into the alleged pyramid scheme will not be getting checks even though they themselves were also victims, Julie Contreras of the League of United Latin American Citizens, an advocacy group critical of Herbalife, told The Post. “Many of the people who have been victimized [by Herbalife] have been revictimized,” Contreras said. The FTC is providing on their Web site a phone number for distributors who feel they deserve compensation but didn’t get a check. FILED UNDER CLASS-ACTION LAWSUITS , FEDERAL TRADE COMMISSION , HERBALIFE , PYRAMID SCHEMES

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next