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Herbalife down on criminal charges, trading suspended

August 28, 2020

The NYSE has suspended trading Herbalife Nutrition (HLF -12.0%) due to volatility on reports that U.S. prosecutors have charged it in a criminal case related to bribery in China.

Developing….

Update: In May, the company disclosed that it reached an understanding in principle with the SEC and U.S. Department of Justice (DOJ) to settle their investigation into its compliance with the Foreign Corrupt Practices Act in China during the period of 2006 – 2016.

In September 2019, it agreed to pay $20M to settle SEC charges over false and misleading statements related to its business model in China.

https://seekingalpha.com/news/3609784-herbalife-down-12-on-criminal-charges-trading-suspended

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