Herbalife will pay $20 million to settle charges that it misled investors about its China operation by lisettevoytko
that it misled investors about its China operation, the Securities and Exchange Commission announced Friday.
In its filings, Herbalife claimed that its China business model was different because MLMs are banned there. But direct selling, which gives more money to distributors based on retail sales, is not banned in China. But the SEC said Herbalife’s claims were untrue, and that its business model was similar to the one used in every country in which it operates. In that model, Herbalife calculates pay made through the number of product purchases made by its distributors.
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