An investigation for investors in Herbalife Ltd. (NYSE:HLF) shares over potential securities laws violations was announced and NYSE:HLF stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 01/09/2013 -- An investigation on behalf of investors of Herbalife Ltd. (NYSE:HLF) shares over potential securities laws violations in connection certain statements was announced.
Investors who purchased shares of Herbalife Ltd. (NYSE:HLF), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Herbalife Ltd. (NYSE:HLF) concerning whether statements by Herbalife Ltd. and/or regarding Herbalife’s business, its prospects and its operations were materially false and misleading at the time they were made.
Herbalife Ltd. reported that its annual Revenue rose from $2.32billion in 2009 to $3.45billion in 2011 and its Net Income increased from $203.35million to $412.58million, respectively.
Shares of Herbalife Ltd. (NYSE:HLF) rose since its 2:1 split on May 18, 2011 from $52.04 per share on May 20, 2011 to $72.23 per share on April 27, 2012.
Then on April 30, 2012, Herbalife Ltd. announced its first quarter 2012 results and raised its 2012 earnings guidance.
On May 1, 2012, Herbalife Ltd. hosted a conference call to discuss its recent financial results and provide an update on current business trends. Hedge-fund manager David Einhorn, among other things, asked why Herbalife Ltd has stopped providing information about distributors in its SEC filings. On a conference call with analysts and investors David Einhorn queried Herbalife Ltd executives about the company’s distributors.
NYSE:HLF shares fell from $70.32 on April 30, 2012 to $52.21 per share during May 1 and closed on May 2, 2012 at $52.72 per share.
Then on Dec. 20, 2012, an article was published citing a hedge fund manager’s allegations from the day before that the nutritional supplements company is a pyramid scheme. The hedge fund manager admitted that he has been shorting the company's stock for several months. He detailed his allegations in a presentation on Dec. 21, 2012.
Herbalife's Chairman and CEO said on Dec. 20, 2012 that the allegation that Herbalife is a pyramid scheme is "bogus".
Shares of Herbalife Ltd. (NYSE:HLF) declined from $42.50 per share on Dec. 18, 2012 to as low as $26.06 per share on Dec. 24, 2012.
Since then NYSE:HLF shares regained value and closed on Jan. 8, 2013 at $38.35 per share.
Those who purchased shares of Herbalife Ltd. (NYSE:HLF) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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