Herbalife Ltd. (HLF) Surges After Shareholder Lawsuit Dismissed [UPDATED]

Herbalife shares climbed as much as 13.48% to $38.96 per share during regular trading hours today after a judge dismissed a lawsuit filed by a shareholder regarding its business model. The judge ruled that shareholder Abdul Awad did not prove that Herbalife committed fraud because the case was based on allegations raised by activist investor and short-seller Bill Ackman.