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Case Status:    DISMISSED    
On or around 11/24/2015 (Date of order of final judgment)

Filing Date: April 14, 2014

According to the law firm press release, Herbalife is a network marketing company that sells weight management, nutritional supplement and personal care products. The Company sells its products globally through a network of independent distributors, which are typically individuals with little marketing expertise that were induced by the Company to purchase the Company's products in the hope that they would be able to resell the product to other consumers or distributors. Herbalife also sells literature and promotional materials to these distributors.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's operations were based on a pyramid scheme whereby its distributors generate revenue by recruiting other distributors rather than selling Herbalife's diet and nutritional products to the general public; (ii) the Company engaged in deceptive trade practices where it unduly pressured its members to purchase more products to resell as one of its "distributors"; and (iii) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On July 30, 2014, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel. Lead plaintiffs filed an amended complaint on September 18.

On March 16, 2015, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend their complaint. An amended complaint was filed on May 8.

On July 28, 2015, the Court issued an Order granting Defendants' Motion to dismiss. Plaintiffs were given leave to replead. Plaintiffs filed their amended complaint on August 27.

On November 23, 2015, the Court issued an Order granting Defendants' Motion to Dismiss with prejudice.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Personal & Household Products
Headquarters: Cayman Islands

SECURITIES INFORMATION:

Ticker Symbol: HLF
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 14-CV-02850
JUDGE: Hon. Ronald S.W. Lew
DATE FILED: 04/14/2014
CLASS PERIOD START: 05/04/2010
CLASS PERIOD END: 04/11/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 14-CV-02850
JUDGE: Hon. Ronald S.W. Lew
DATE FILED: 08/27/2015
CLASS PERIOD START: 02/23/2011
CLASS PERIOD END: 12/19/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
  2. Tostrud Law Group, P.C.
    1925 Century Park East, Suite 2125, Tostrud Law Group, P.C., CA 90067
    (310) 278-2600 (310) 278-2640 ·
No Document Title Filing Date