real-time news and commentary for investors
Monday, Aug 19
Herbalife trades lower after news of top distributor's death
- Shares of Herbalife (HLF -3.8%) are under pressure in early trading.
- Perhaps weighing on sentiment is a report that 10-time top distributor of the year John Peterson has apparently committed suicide.
- Peterson — who reportedly made ~$3M last year — exemplified the HLF dream, claiming to own a Wyoming cattle ranch as well as homes in Brazil and Mexico to which he traveled by way of a private plane.
- Of particular note is the NY Post's contention that Peterson "rose with the help of an Internet-based lead-generation business" which the company banned as of June 30 on the heels of Ackman's short and what the Post says amounted to "hundreds of consumer complaints to the Federal Trade Commission in recent years."