Opiate Addiction Treatment Claim Comes With $235,000 Price Tag For Sunrise Nutraceuticals
This article was originally published in The Tan Sheet
The proposed order imposes a nearly $1.4m judgment in consumer redress or asset disgorgement, though all but $235,000 is "suspended based on the defendants’ ability to pay," according to FTC. If the firm and its owner "are later found to have misrepresented their financial condition," the entire amount will be due.
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Consumer health product industry veteran executive Paul Sturman takes the helm at Nature's Bounty Co. on the day that private equity firm Kohlberg Kravis Roberts & Co. LP closed its acquisition of a controlling interest in the nutritional and health and wellness product manufacturer from Carlyle Group LP. The Ronkonkoma, N.Y.-based firm on Sept. 28 said Sturman has more than 30 years of experience in the sector, including leading Pfizer Inc.'s consumer product group and is a past chairman of the Consumer Healthcare Products Association. (Also see "KKR Steers Nature's Bounty With Carlyle In Back Seat After Seven-Year Ride" - HBW Insight, 24 Jul, 2017.) Sturman succeeds Steve Cahillane, the second CEO Carlyle appointed in 2014 after acquiring Nature's Bounty, then NBTY Inc., in 2010 and taking the firm private. (Also see "Carlyle Group Gives NBTY Helm To Former Coca-Cola Executive Cahillane" - Pink Sheet, 20 Aug, 2014.)
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