The battle to bring down Herbalife Ltd. (NYSE:HLF) just got new life, but this time activist hedge fund manager Bill Ackman wasn’t directly involved. Lawsuit claims Herbalife failed to disclose risk A group of investors have filed a class action lawsuit against the nutritional supplemental company for its sales practices. The investor suit, filed in Los Angeles federal district court, claims the company failed to disclose its widely-known multilevel sales operation was a “pyramid scheme” and the company was under investigation by the FBI. The suit, filed by investor Abdul Awad, seeks class action status to represent all investors who bought…
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
Comments are closed.