NEW YORK, April 11, 2014 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Herbalife Ltd.
("Herbalife" or the "Company")(NYSE: HLF). Such investors are
advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
237.
The investigation concerns whether Herbalife and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On January 23, 2014, United States Senator Ed Markey called for government investigations
into the company's business practices, describing the company as a
pyramid scheme that has financially hurt his constituents.
On this news, shares of Herbalife fell $8.25 per share to more than 11.22%, on intraday
trading to a price of $65.28 on January
23, 2014.
On April 11, 2014, the
Financial Times ("FT") reported that the U.S. Department of
Justice and Federal Bureau of Investigation have opened a criminal
investigation into multi-level supplements-seller
Herbalife. According to the FT's report, the
criminal investigation will be led by the U.S. attorney and FBI's
New York offices.
On this news, shares of Herbalife fell $8.36 per share to more than 13.97%, on intraday
trading, to a price of $51.48
on April 11, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San
Diego and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP