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Jun. 26, 2015, 3:51 AM
- The Herbalife (NYSE:HLF) drama continues...A video (dating back to 2005) seen by the NY Post displays CEO Michael Johnson bad-mouthing the company with criticisms one would expect to hear from Bill Ackman.
- Success in Herbalife, he decried, was a "lottery ticket," with few making it to the top ranks. In fact, he said, distributors had sometimes engaged in "false promises, claims, in hopes for product, for money, for recruiting, for customers, for pyramiding."
- Related: Ackman ramps up his bearish views on Herbalife in interview (Dec. 17 2014)
- Related: Pershing posts new Herbalife-bashing video (Dec. 11 2014)
May 26, 2015, 8:31 AM
- Herbalife (NYSE:HLF) adds three new executives to its global corporate affairs organization. Company veteran Ric Hobby, who has been on board for 27 years, will serve as senior vice president for global government relations. Megan Jordan, joining the firm from Southern California Edison, will serve as senior vice president for global corporate communications and Randall Popelka, a Capital Hill veteran and former member of the George W. Bush administration, will serve as vice president, government and industry affairs.
- Julian Cacchioli will continue his role as vice president of global corporate communications but will take on the added responsibilities of coordinating Herbalife's global public policy strategy and overseeing its corporate responsibility program.
- Elaine Pacheco will assume a new role as strategic project manager in the office of the executive vice president for global corporate affairs.
May 14, 2015, 8:03 PM
- The U.S. District Court for the Central District of California grants final approval of the $15M class action settlement in the matter of Dana Bostick v. Herbalife International of America (Case # CV 13-02488-BRO). Plaintiffs lawyers, anticipating a bigger payday from a hoped-for increase in the award, are, no doubt, returning their champagne to the cellar.
- Previously: Herbalife class-action settlement hearing to tap for Monday (May 7)
May 7, 2015, 11:42 AM
- The hearing to finalize Herbalife's (HLF +1.1%) $15M settlement of a class-action lawsuit brought by a former salesperson is scheduled for Monday. The suit, from former distributor Dana Bostick, accused the company of running a pyramid scheme. It may be a lively affair. Ad watchdog truthinadvertising.org filed a brief with the court in March opposing the settlement, saying at least $100M is necessary to fairly compensate the class. Also filing a formal objection to the modest settlement is a group of former distributors organized by the League of United Latin American Citizens.
- Previously: Consumer advocacy group takes exception to proposed Herbalife class-action settlement (March 17)
- Previously: Former distributors reject Herbalife proposed settlement (Feb. 17)
May 6, 2015, 12:45 PM
May 6, 2015, 9:11 AM
May 5, 2015, 5:37 PM
May 5, 2015, 4:43 PM
- Herbalife (NYSE:HLF) Q1 results ($M): Global Net Sales: 1,105.4 (-12.5%), COGS: 215.4 (-14.3%); Royalty Overrides: 323.0 (-15.4%); Net Income: 78.2 (+4.8%); GAAP EPS: 0.92 (+24.3%); Quick Assets: 715.5 (-43.3%); CF Ops: 161.1 (-15.5%).
- Sales by Region: North America: 226.7 (-8.6%); Asia Pacific: 242.8 (-13.4%); EMEA: 186.4 (-11.7%); China: 164.2 (+20.8%); South/Central America: 161.7 (-33.9%); Mexico: 123.6 (-13.4%).
- Volume Points (M): North America: 297.8 (-11.5%); Asia Pacific: 265.9 (-12.0%); EMEA: 228.4 (+13.0%); South/Central America: 210.5 (-7.6%); Mexico: 203.4 (-7.6%); China: 113.7 (+24.8%).
- 2015 Guidance: Volume Point Growth: (4.0 - 1.0%) from (4.5 - 1.5%); Net Sales Growth: (9.5 - 6.5%) from (9.0 - 6.0%); Non-GAAP EPS: $4.30 - 4.60 from $4.10 - 4.50; CF Ops: $320M - 330M from $310M - 320M.
- Q2 Guidance: Volume Point Growth: (7.5 - 4.5%); Net Sales Growth: (13.5 - 10.5%); Non-GAAP EPS: (1.05 - 1.15).
- Shares are up 16% after hours on robust volume.
May 5, 2015, 4:26 PM
- Herbalife (NYSE:HLF): Q1 EPS of $1.29 beats by $0.28.
- Revenue of $1.11B (-11.9% Y/Y) beats by $20M.
- Shares +16.6%.
May 4, 2015, 5:35 PM
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May 4, 2015, 5:02 PM
- Herbalife (NYSE:HLF) will report Q1 results tomorrow after the close. Consensus view is EPS of $1.01 on revenues of $1.1B.
Apr. 6, 2015, 9:19 AM
- Herbalife (NYSE:HLF) eases 5% premarket on average volume in response to the news that federal law enforcement agencies have queried ~10 members of the company's top-level distributors about their business practices. The specifics of the interviews or the identities of the individuals are not known at this point. According the company, it has offered legal counsel to those involved.
- The company is under scrutiny for its marketing practices from various law enforcement groups. Short seller Pershing Square maintains that it operates an illegal pyramid scheme.
Apr. 6, 2015, 9:18 AM
Apr. 6, 2015, 4:52 AM
- U.S. federal law enforcement agencies contacted about 10 Herbalife (NYSE:HLF) members last week for information about their own business practices. HLF said it is cooperating with requests for information, and "remains confident in the integrity of our business practices." HLF is offering members assistance with legal counsel.
- Separately, Herbalife also received inquiries recently about irregular trading in its stock as part of a broader investigation into possible market manipulation. In a statement, HLF said the investigation is focused on Bill Ackman's "nearly three-year effort to drive down HLF's stock," adding, "We are cooperating with these requests for information, remain confident in the integrity of our business practices, and are hopeful Ackman's long-term campaign of distortion will be found to be illegal."
- Also Sunday, Bill Stiritz, HLF's fifth-largest shareholder (8.2%), said he has no plans to sell his stake - deflating speculation after an April 3 SEC filing disclosed a change in his investor status from active to passive. “As I sit right now, I couldn’t be happier with my investment in Herbalife,” Stiritz said Sunday. Stiritz said the filing was intended to accurately reflect his dealings with Herbalife, which he expects won’t be shut down by regulators as predicted by Ackman. "People that are long in the stock are looking at the impact of the FTC case closure,” he said. “Herbalife will likely get little if any fine.” Herbalife shares and sales will rebound once the FTC investigation ends, he added.
Mar. 31, 2015, 1:42 PM
- Even after his big win with Allergan, Bill Ackman's Pershing Square maintains significant exposure (~50%) to the healthcare sector. In a recent regulatory filing, Pershing disclosed a 19.5M share stake in Valeant Pharmaceuticals (VRX -0.2%) valued at ~$3.83B, making it the largest position in its equity portfolio. It also has a 41.8M share stake in Zoetis (ZTS -0.2%) valued at almost $2B.
- In case you were wondering, Pershing is also maintaining its short position in Herbalife (HLF -0.9%).
Mar. 31, 2015, 2:37 AM
- Shutting Herbalife (NYSE:HLF) is "one of the most important things" I can do, declared Bill Ackman yesterday at the Council of Institutional Investors' in Washington.
- Ackman noted that when he first bet against Herbalife, he had not anticipated that Carl Icahn would come in and take a long view on the company.
- Had Icahn not shown up, Ackman said, the whole thing would be over in a few months and Herbalife's alleged pyramid scheme would have collapsed.
- HLF shares are up over 13% for the year.
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