Fraud Discovery Institute Retracts Herbalife Accusations
August 22, 2008 – 8:48 am | by Shelley Penney - The MLM Diva
Barry Minkow Eats Crow?!?!?
Was there ever any doubt on the outcome of this? Barry Minkow of The Fraud Discovery Institute (FDI) was either retracting or going to court and fighting. He would be foolish to take on the GIANT nutritional direct sales company Herbalife. I would love to think this is the end of Barry Minkow but of course I know better. Why can’t he focus his energies on gifting schemes and off-shore FOREX deals? Surely that would be better for all of us!
(Just for a little background… Barry accused Herbalife of having unsafe levels of nasty things like LEAD in their nutritional products.)
Date: 8/22/2008 12:02:01 AM
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LOS ANGELES, Aug 22, 2008 (BUSINESS WIRE) — Herbalife Ltd. (NYSE: HLF) and the Fraud Discovery Institute announced today that the Fraud Discovery Institute retracts its accusations against multi-level marketer Herbalife. Herbalife and the Fraud Discovery Institute reached the agreement to avoid litigation.
Upon further investigation by FDI founder Barry Minkow, the Fraud Discovery Institute became convinced that Herbalife employs systematic internal controls, including the use of outside, independent laboratory testing, which ensures their products are manufactured safely and in compliance with California law. It is evident to the Fraud Discovery Institute that Herbalife produces products that are safe, and that the company strives for continuous improvement in product quality.
The Fraud Discovery Institute immediately withdraws all accusations against Herbalife, including any Proposition 65 allegation relating to any Herbalife product and any contentions against the Herbalife business model.
About Herbalife Ltd.
Herbalife Ltd. is a global network marketing company that sells weight-management, nutrition, and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 66 countries through a network of over 1.8 million independent distributors. The company supports the Herbalife Family Foundation and its Casa Herbalife program to bring good nutrition to children. Please visit Herbalife Investor Relations for additional financial information.
SOURCE: Herbalife Ltd.
Herbalife Ltd.
Media Contact
George Fischer, 310-410-9600 x32649
georgef@herbalife.com
or
Investor Contact
Andrew Speller, 310-410-9600 x32862
andysp@herbalife.com
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Tags: Barry Minkow, court, FDI, Fraud Discovery Institute, herbalife, lawsuit, lead, neutritionals, retract, settledRelated posts
Shelley Penney lives in her own world.... building a network marketing business from her home office, and writing about it in hopes that she can TRULY make a difference. Find her at http://www.shelleypenney.com
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Tags: Barry Minkow, court, FDI, Fraud Discovery Institute, herbalife, lawsuit, lead, neutritionals, retract, settled
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