Herbalife Pays $123M To Resolve Criminal, Civil Charges From US Investigation Of China Business
SEC: Firm 'Failed To Detect And Prevent Improper Payments And Falsified Expense Reports'
Direct seller pays fines in settlements with SEC and DoJ on bribery and other charges but two former executives for its operations in China still face criminal charges alleging violations of the Foreign Corrupt Practices Act. They have not been arrested and have remained at large since being charged in November 2019.
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Herbalife’s China Growth Plan Includes Expediting Business Licensing, Tighter Hiring Standards
Four-point China initiative also includes implementing sales strategy already a fixture in other regions, nutrition clubs with daily meetings. China's April-June results compelled firm to lower earnings forecast.
China Q4 Sales Slip But Herbalife Has Record Year
Herbalife Q4 net sales up 15.6% to $1.4bn, a company record for the period, and full-year net sales increased 13.6% as its Asia Pacific, Europe-Middle East-Africa and North America regions reached annual net sales records. USANA reports 5.4% Q4 sales growth in China as full-year sales grew 7% to $1.135bn.