Pharma Investments, Ventures & Law Weekly
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Herbalife Ltd.
Fraud Discovery Institute Retracts Herbalife Accusations
September 7th, 2008
Herbalife Ltd. (NYSE: HLF) and the Fraud Discovery Institute announced that the Fraud Discovery Institute retracts its accusations against multi-level marketer Herbalife. Herbalife and the Fraud Discovery Institute reached the agreement to avoid litigation. Upon further investigation by FDI founder Barry Minkow, the Fraud Discovery Institute became convinced that Herbalife employs systematic internal controls, including the use of outside, independent laboratory testing, which ensures their products are manufactured safely and in compliance with California law. It is evident to the Fraud Discovery Institute that Herbalife produces products that are safe, and that the...
Source: Pharma Investments, Ventures & Law Weekly (2008-09-07)
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