An investigation on behalf of investors in Herbalife Ltd. (NYSE:HLF) shares over potential securities laws violations by certain officers and directors at Herbalife Ltd. in connection with certain financial 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 the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns 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.
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 $43.01 per share on May 14, 2012.
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