Kehoe Law Firm’s securities attorneys are investigating claims on behalf of investors of Herbalife Ltd. (NYSE: HLF) regarding whether Herbalife and certain of its officers and/or directors violated federal securities laws. The company’s share price dropped by more than 7% in intraday trading on June 5, 2017, following news that it was unexpectedly lowering its sales guidance.
Herbalife Cuts Sales Forecast
On June 5, 2017, Herbalife announced that it was lowering its sales guidance due to new Federal Trade Commission regulations that will hurt its sales more than expected. This news comes just one month after the company announced it was raising its guidance, which drove the stock price up more than 50% year-to-date through Friday, June 2, 2017.
Key Herbalife Executives Depart
Several insiders at Herbalife sold stocks and options in the past month, and according to a recent blog, some executives, including general counsel Mark Friedman, have left the company, but the company has failed to disclose this fact to investors.
Herbalife Investment Losses?
If you purchased or otherwise acquired shares in Herbalife between May 4, 2017 and June 2, 2017 or would like to speak privately with a securities attorney to contribute to or learn more about the investigation, please complete the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of the Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.