Herbalife to pay $15 million to settle class action lawsuit

Wed Nov 5, 2014 11:17am EST
 
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By Devika Krishna Kumar

(This Oct.31st story corrects attribution for quote in paragraph 13 to "the plaintiffs" from "Judge Beverly Reid O'Connell")

By Devika Krishnakumar

(Reuters) - Herbalife Ltd (HLF.N: Quote) would pay $15 million to settle an 18-month battle over a class action lawsuit brought by a former distributor claiming that the nutrition and supplements company is running an alleged pyramid scheme, according to a U.S. court filing.

The company would pay $15 million in cash, plus up to $2.5 million for product returns, according to the court filing that granted preliminary approval for the settlement on Friday.   Continued...

 
A Herbalife logo is shown on a poster at a clinic in the Mission District in San Francisco, California April 29, 2013. REUTERS/Robert Galbraith