The following statement was sent by LULAC to ValueWalk regarding today’s protest against Herbalife Ltd. (NYSE:HLF)
Chicago, IL – Recognizing the number of immigrants that have become victim of Herbalife Inc.’s predatory pyramid scheme and deceptive business practices, protesters from various consumer and immigrant rights groups gathered on July 18 at Herbalife’s Chicago Extravaganza, held in Rosemont, Illinois, to show solidarity with the ongoing Illinois Afuera Con Herbalife campaign.
Chicago, IL – Recognizing the number of immigrants that have become victim of Herbalife Inc.’s predatory pyramid scheme and deceptive business practices, community members from various consumer and immigrant rights groups gathered today to protest Herbalife’s Chicago Extravaganza in Rosemont, Illinois, and show solidarity with the ongoing Illinois Afuera Con Herbalife campaign.
“As we continue to raise awareness about Herbalife’s abusive business practices, we have identified a disproportionate number of the victims also being immigrants,” said Julie Contreras, President of LULAC of Lake County. “Immigrants are particularly vulnerable because many do not speak English, are often separated from family and friends, and may not understand the laws of the United States that provide protection and restitution from financial scams.”
Earlier this week, community leaders announced another group of victims who filed complaints with both the Illinois Attorney General’s office and the Federal Trade Commission (FTC), claiming financial losses due to their involvement with Herbalife.
Last May, Attorney General Madigan announced her office had launched an investigation into Herbalife – joining separate investigations by the Federal Bureau of Investigations (FBI), Federal Trade Commission (FTC), Securities and Exchange Commission (SEC), Department of Justice (DOJ), and the New York Attorney General.
“Herbalife’s financial success is built on defrauding hardworking men and women in Illinois. The pizzazz and glamour of this extravaganza only helps to promote Herbalife’s get-rich-quick scheme to appeal to the most vulnerable members of our community,” said Elizabeth Guerrero, Field Manager with the Brighton Park Neighborhood Council.
As the investigation furthers, the Federal Trade Commission and the Illinois Attorney General’s office will begin conducting interviews with current victims in the following weeks.
“I have joined the Illinois Afuera on Herbalife campaign protest because I was financially affected by Herbalife and lost thousands of dollars,” said Martil Palama who filed a formal complaint with the IL Attorney General and the FTC. “I hope the protest helps more people realize that Herbalife is not a legitimate business. That it is only scamming innocent people.”
llinois victims of Herbalife can call toll-free at (855) 701-5437 to share their story and seek assistance in filing a complaint against Herbalife.