Herbalife (NYSE: HLF) today issued the following statement
following misleading and inaccurate information in the marketplace
this morning:
Other than the voluntary dialogue with
regulators, which we communicated on our January investor day, we
are unaware of any other regulatory interest and/or investigation.
We are demanding a correction from the NY Post.
Since its founding in 1980, Herbalife has
positively impacted the lives and health of consumers. For a direct
selling company of our size, we have had a relatively low number of
complaints to the FTC. However, we take every one of them seriously
and stand by our record of doing right by our distributors and all
consumers of our products.
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 80 countries to and through a network of
independent distributors. The company supports the Herbalife Family
Foundation and its Casa Herbalife program to help bring good
nutrition to children. Herbalife's website contains information
about Herbalife, including financial and other information for
investors 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
This document contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact are
“forward-looking statements” for purposes of federal and state
securities laws, including any projections of earnings, revenue or
other financial items; any statements of the plans, strategies and
objectives of management for future operations; any statements
concerning proposed new services or developments; any statements
regarding future economic conditions or performance; any statements
of belief; and any statements of assumptions underlying any of the
foregoing. Forward-looking statements may include the words “may,”
“will,” “estimate,” “intend,” “continue,” “believe,” “expect” or
“anticipate” and any other similar words.
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 “crisis,” including the availability of
liquidity to us, our customers and our suppliers or the willingness
of our customers to purchase products in a recessionary economic
environment;
• our relationship with, and our ability to
influence the actions of, our distributors;
• improper action by our employees or
distributors in violation of applicable law;
• adverse publicity associated with our
products or network marketing organization;
• 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 distributor 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;
• 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 distributors;
• product liability claims; and
• whether we will purchase any of our shares
in the open markets or otherwise.
Forward-looking statements speak only as of the date hereof. We
do not undertake any obligation to update or release any revisions
to any forward-looking statements or to report any events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law.
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