NEW YORK, March 3, 2016 /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.
9980.
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.
Herbalife disclosed in a Securities and Exchange Commission
("SEC") form 8-K filing, that on March 1,
2016 the Company identified errant information
regarding the Company's new "Active New Member" metric that was
provided on certain of the Company's 2015 earnings calls. The
Company began tracking this non-financial metric in 2015 in
connection with certain marketing plan changes and discussed it for
the first time on its second quarter 2015 earnings call. However,
database scripting errors led to both (i) the errant inclusion of
additional categories of data in calculating the metric for parts
of 2015 which were not included in the 2014 and prior period
calculations and (ii) quarterly aggregation issues which created
variances from period-to-period depending on when the greatest
level of activity occurred during the relevant period.
On this news, shares of Herbalife fell $6.58 per share to more than 11.68% in pre-market
trading to a price of $49.80 on
March 3, 2016..
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 80 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
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SOURCE Pomerantz LLP