Lawsuit Against Herbalife Dismissed

12/4/2015

November 25, 2015 -- A federal judge has dismissed a lawsuit against Herbalife and its CEO, Michael Johnson. The lawsuit, filed by Oklahoma Firefighters Pension and Retirement System, accused Herbalife of defrauding shareholders by understating the percentage of sales to retail customers. It also claimed Johnson took advantage of a share price he knew was inflated by selling more than $126 million of company stock.

The judge decided that the plaintiff failed to show Herbalife and Johnson intended to deceive shareholders and misrepresented the company's business.

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