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Herbalife to pay $200 million to FTC to avoid pyramid scheme label

Posted by: Admin | Posted on: July 15th, 2016 | 0 Comments


WASHINGTON Weight-loss products maker Herbalife Ltd (HLF.N) has agreed to pay $200 million and restructure its U.S. business operations under a settlement with the Federal Trade Commission, the U.S. agency said on Friday.

“Herbalife is going to have to start operating legitimately, making only truthful claims about how much money its members are likely to make, and it will have to compensate consumers for the losses they have suffered as a result of what we charge are unfair and deceptive practices,” FTC Chairwoman Edith Ramirez said in a statement.


(Reporting by Doina Chiacu; Editing by Mohammad Zargham)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/T0dguBaP_yM/us-herbalife-probe-ftc-idUSKCN0ZV1F7

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