Herbalife to pay $15 million to settle class action lawsuit
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...