Herbalife Surges After FTC Announces Settlement

0
Herbalife Surges After FTC Announces Settlement

Herbalife shares surged 10.34% to $65.50 after regulators said today that they have reached a settlement with the company. The Wall Street Journal reported early this morning that an announcement was imminent, and a short time later, the Federal Trade Commission issued a formal statement on the settlement.

Herbalife to pay $200 million

The FTC confirmed the earlier report that Herbalife will pay $200 million as “redress for consumers we contend were harmed by the practices challenged in the Commission’s complaint.” The settlement also provides consumers with “injunctive relief.”

Mohnish Pabrai On Waiting For The Perfect Pitch