NEW YORK, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against the Herbalife Nutrition Ltd. (NYSE: HLF). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/hlf .
The investigation concerns whether Herbalife and certain of its officers and/or directors have violated federal securities laws.
On January 8, 2019, Herbalife announced the resignation, effective immediately, of Chief Executive Officer (“CEO”) Richard Goudis. Herbalife merely stated that “Mr. Goudis’ departure . . . pertains to comments which recently came to light made by Mr. Goudis prior to his role as CEO, that are contrary to the Company’s expense-related policies and business practices.” Then, on February 7, 2019, The Wall Street Journal reported that Goudis’ resignation was prompted “after a recording of comments he made years ago about bypassing internal accounting policies recently ended up in the hands of federal investigators.” Citing “people familiar with the matter,” The Wall Street Journal reported that “[w]hen Mr. Goudis was Herbalife’s chief financial officer about a decade ago, he told a colleague working in Hong Kong or mainland China to ignore the company’s expense-account limit on entertainment spending” and that a recording of the conversation had “reached the Justice Department, which has been investigating whether [Herbalife] violated foreign bribery laws in its business dealings in China.” Following this news, Herbalife’s stock price fell sharply during intraday trading on February 7, 2019.
If you are aware of any facts relating to this investigation, or purchased Herbalife shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/hlf . You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
