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  1. #1
    Join Date
    Jul 2008
    Posts
    21,904

    Judge dismisses pyramid scheme lawsuit against Herbalife.

    More woe for the anti MLM brigade.


    • Embattled nutritional products seller Herbalife (HLF +4.4%) continues to swat pesky lawsuits away. Today, U.S. District Court Judge Dale Fischer dismissed a lawsuit brought by the Oklahoma Firefighters Pension and Retirement System that accused the company of misrepresenting its sales practices as legitimate when, in fact, it is an illegal pyramid scheme. The judge, who dismissed an earlier version of the complaint in March, stated that the plaintiff failed to show that the defendants defrauded shareholders by concealing the company's inability to track retail sales.
    • The judge also said that CEO Michael Johnson's selling of 12% of his Herbalife stake, while "undeniably large," did not raise suspicions nor did disclosures by top execs that they expected "some form of disciplinary action" over the sales practices issue.
    • Attorney Maya Saxena, representing Oklahoma Firefighters says, "We are disappointed with the ruling and will determine our next steps after consultation with the client."
    • The plaintiff has until August 27 to file an amended complaint.
    • The case is: Herbalife Ltd Securities Litigation, U.S. District Court, Central District of California, No. 14-02850.
    • http://blogs.barrons.com/stockstowat...uit-dismissed/
    "People are not interested in your product or your business; they are interested in solving their own problems." -- James Dillehay, Entrepreneur and Author

  2. #2
    Join Date
    Aug 2011
    Location
    Earth
    Posts
    21,809

    Re: Judge dismisses pyramid scheme lawsuit against Herbalife.

    Here's a good article on Herbalife:

    http://seekingalpha.com/article/3362...inancial-press

    •Why couldn’t David Einhorn get a simple answer from Herbalife to his question as to the existence and number of actual retail customers?
    Originally Posted by nomaxim
    Sorry there ''ohein56', but it appears that 'Joecool44' does not have the position that you envision on this topic.

    'Joecool44' has, as a matter of routine, refuted most of your accusations
    Quote Originally Posted by Jax74 View Post
    Some people have the ability to think critically, some do not. ohein obviously doesn't.

  3. #3
    Join Date
    Apr 2012
    Posts
    3,324

    Re: Judge dismisses pyramid scheme lawsuit against Herbalife.

    Hey Joe, try this... "I was wrong"

    See that was not so bad

  4. #4
    Join Date
    Dec 2014
    Location
    NY
    Posts
    116

    Re: Judge dismisses pyramid scheme lawsuit against Herbalife.

    Interesting, you mean there is still a judge in this country who isn't in the tank and beholden to the powers that be?

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