February 3, 2007 |
A private investment group that owns more than a quarter of Herbalife Ltd., the Century City-based direct seller of nutritional and weight-loss supplements, has made a bid for the entire company, Herbalife said Friday. J.H. Whitney & Co., which took Herbalife private in 2002 when it purchased the company with another investor, offered $38 a share in cash this time, valuing the company at $2.7 billion.
June 14, 2013 |
Rep. Linda T. Sanchez asked regulators to investigate allegations that Herbalife Ltd. operates a well-disguised pyramid scheme that victimizes "our country's most vulnerable populations. " The Lakewood Democrat said in a letter to the Federal Trade Commission that she was "troubled that this company may be harming consumers," noting allegations that Herbalife's independent distributors are compensated more for recruiting new distributors than for sales. Herbalife is a Los Angeles nutritional products company that sells weight-loss shake mixes, vitamins, protein bars and other such items through independent salespeople, or distributors, who profit from their sales and from the sales made by others they recruit into the business.
September 6, 2013 |
Lose cred now. Ask him how. Former Los Angeles Mayor Antonio Villaraigosa is going to work for Herbalife, the much-maligned company that pitches dietary supplements to people eager to be as trim as, well, the former mayor. It also happens to be fighting allegations that the company's multi-level marketing plan is actually a pyramid scheme. We're almost speechless. Almost. Herbalife's less-than-sterling reputation is an odd thing for a erstwhile top city official to associate his name with, especially if he has any remaining political ambitions, as Villaraigosa certainly had at some point.
August 8, 1990 |
Rough times don't ruffle Howard Ruff. Fired as president of beleaguered FundAmerica Inc. of Irvine on Monday, Ruff said Tuesday that he is seriously thinking about starting a similar company. "I'm getting a lot of pressure to start a FundAmerica equivalent," he said in an interview. He said there was a "50-50" chance he would actually found a new multilevel marketing company.
May 18, 2000 |
Amway Corp., which built a billion-dollar success story through a friendly neighborhood sales force, announced sweeping job cuts Wednesday, part of a major restructuring to compete in the faceless world of the Internet. The direct-sales giant said it will cut nearly 11% of its global work force, or 1,300 jobs, including positions at its Buena Park operations, a move designed to save $300 million annually.
January 11, 2000
PharmaPrint Inc., trying to build business after its only major customer gave notice of terminating a contract, said Monday that it will try to fend off an attempt to remove its stock from the Nasdaq National Market system. The money-losing Irvine maker of herbal and dietary supplements said in a press release that it has been informed that its financial condition has worsened to the point that it no longer meets Nasdaq criteria for listing its stock on the national market.
March 28, 2001 |
An Arizona company that sells "Internet malls"--Web sites with links to retailers--will pay $5 million back to its customers to settle charges that it operated an illegal pyramid scheme, federal regulators announced Tuesday. Mark and Harry Tahiliani, the proprietors of the Web site called Bigsmart.com, also agreed to post a $500,000 bond before engaging in another similar marketing operation, the Federal Trade Commission said.
May 6, 2013 |
Herbalife Ltd. shares were up more than 5% Monday and had passed the price they were when hedge fund manager Bill Ackman accused the Los Angeles nutritional products company of operating a long-running pyramid scheme. The company's stock price plummeted Dec. 19 after Ackman publicly disclosed that he had taken a $1-billion short against its shares. Within four trading days of Ackman's announcement, the stock fell 43%, reaching $24.24 on Christmas Eve. The downswing created a buying opportunity for billionaire investor Carl Icahn, who now owns nearly 16% of the company's shares.
July 31, 2013 |
NEW YORK -- Another Wall Street tycoon has reportedly joined the battle over Herbalife Ltd., the Los Angeles nutritional products maker. George Soros, the legendary investor known for his support of liberal causes, has taken a big bet on Herbalife, according to the financial news network CNBC. Soros has purchased a significant chunk of Herbalife shares, wagering that the company's fortunes will rise, according to the the television station, which cited anonymous sources. A spokesman for Soros declined to comment.
October 9, 1994 |
The art world has been taking a few unorthodox steps to bring its message to the masses. Who could have failed to notice Hiro Yamagata's movie premiere-style billboard on Hollywood Boulevard promoting his new automotive installation, "Earthly Paradise," at the Barnsdall Park Municipal Art Gallery?