San Diego, CA -- (SBWIRE) -- 05/30/2012 -- An investigation on behalf of investors in NYSE:HLF shares was announced over potential breaches of fiduciary duties by certain members of the board of directors at Herbalife Ltd. in connection with certain financial statements.
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 concerns on whether certain officers and directors at Herbalife Ltd. breached their fiduciary duties. Specifically, the investigation focuses whether certain statements about Herbalife’ business, its prospects and its operations were potentially 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.
Then 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 as low as $42.44 per share on May 15, 2012.
On May 25, 2012, NYSE:HLF shares closed at $44.85 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