LOS ANGELES, March 12, 2014 /PRNewswire/ -- Herbalife
(NYSE: HLF) announced it received today a Civil Investigative
Demand (CID) from the Federal Trade Commission (FTC). In
response, Herbalife issued the following statement:
Herbalife welcomes the inquiry given the tremendous amount of
misinformation in the marketplace, and will cooperate fully with
the FTC. We are confident that Herbalife is in compliance
with all applicable laws and regulations. Herbalife is a
financially strong and successful company, having created
meaningful value for shareholders, significant opportunities for
distributors and positively impacted the lives and health of its
consumers for over 34 years.
Herbalife does not intend to make any additional comments
regarding this matter unless and until there are material
developments.
About Herbalife Ltd.
Herbalife Ltd. (NYSE:HLF) is a global nutrition company that
sells weight-management, nutrition and personal care products
intended to support a healthy lifestyle. Herbalife products are
sold in more than 90 countries to and through a network of
independent members. The Company supports the Herbalife Family
Foundation and its Casa Herbalife program to help bring good
nutrition to children. Herbalife's website contains a significant
amount of financial and other information about the company at
http://ir.Herbalife.com. The company encourages investors to visit
its website from time to time, as information is updated and new
information is posted.
FORWARD-LOOKING STATEMENTS
Although we believe that the expectations reflected in any of
our forward-looking statements are reasonable, actual results could
differ materially from those projected or assumed in any of our
forward-looking statements. Our future financial condition and
results of operations, as well as any forward-looking statements,
are subject to change and to inherent risks and uncertainties, such
as those disclosed or incorporated by reference in our filings with
the Securities and Exchange Commission. Important factors that
could cause our actual results, performance and achievements, or
industry results to differ materially from estimates or projections
contained in our forward-looking statements include, among others,
the following:
- any collateral impact resulting from the ongoing worldwide
financial environment, including the availability of liquidity to
us, our customers and our suppliers or the willingness of our
customers to purchase products in a difficult economic
environment;
- our relationship with, and our ability to influence the
actions of, our Members;
- improper action by our employees or Members in violation of
applicable law;
- adverse publicity associated with our products or network
marketing organization, including our ability to comfort the
marketplace and regulators regarding our compliance with applicable
laws;
- the outcome of inquiries from regulatory
authorities;
- changing consumer preferences and demands;
- our reliance upon, or the loss or departure of any member
of, our senior management team which could negatively impact our
Member relations and operating results;
- the competitive nature of our business;
- regulatory matters governing our products, including
potential governmental or regulatory actions concerning the safety
or efficacy of our products and network marketing program,
including the direct selling market in which we operate;
- legal challenges to our network marketing program;
- risks associated with operating internationally and the
effect of economic factors, including foreign exchange, inflation,
disruptions or conflicts with our third party importers, pricing
and currency devaluation risks, especially in countries such as
Venezuela;
- uncertainties relating to the application of transfer
pricing, duties, value added taxes, and other tax regulations, and
changes thereto;
- uncertainties relating to interpretation and enforcement of
legislation in China governing
direct selling;
- uncertainties relating to the interpretation, enforcement or
amendment of legislation in India
governing direct selling;
- our inability to obtain the necessary licenses to expand our
direct selling business in China;
- adverse changes in the Chinese economy, Chinese legal system
or Chinese governmental policies;
- our dependence on increased penetration of existing
markets;
- contractual limitations on our ability to expand our
business;
- our reliance on our information technology infrastructure
and outside manufacturers;
- the sufficiency of trademarks and other intellectual
property rights;
- product concentration;
- changes in tax laws, treaties or regulations, or their
interpretation;
- taxation relating to our Members;
- product liability claims;
- whether we will purchase any of our shares in the open
markets or otherwise; and
- share price volatility related to, among other things,
speculative trading and certain traders shorting our common
shares.
We do not undertake any obligation to update or release any
revisions to any forward-looking statement or to report any events
or circumstances after the date hereof or to reflect the occurrence
of unanticipated events, except as required by law.
Contacts
Herbalife Ltd.
Barbara Henderson
SVP, Worldwide Corp. Communications
213-745-0517
or
Amy Greene
VP, Investor Relations
213-745-0474
SOURCE Herbalife