Herbalife Down After Agreeing to Pay to Settle DOJ, SEC Investigations By Investing.com

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Herbalife Down After Agreeing to Pay to Settle DOJ, SEC Investigations

Published Aug 28, 2020 10:33AM ET Updated Aug 28, 2020 12:47PM ET

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Herbalife Down After Agreeing to Pay to Settle DOJ, SEC Investigations

HLF

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By Christiana Sciaudone

Investing.com -- Herbalife (NYSE:HLF) Nutrition said it has settled a Foreign Corrupt Practices Act case.

Shares sank 12% on Friday before being suspended on reports that U.S. prosecutors had charged the company in a criminal case related to bribery in China, according to an unsealed indictment in Manhattan court, Bloomberg Law reported.

Shares pared losses, and are down 2.25%.

Herbalife is paying $123 million to settle the case, in which the company was found to have violated books and records. The Securities and Exchange Commission and the U.S. Department of Justice conducted investigations, and Herbalife settled with both.

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