Trade Herbalife Nutrition
Herbalife Nutrition is a global multi-level marketing company (franchise) that develops and sells supplements. The company was founded by Mark Hughes in 1980 and employs an estimated 8,900 people worldwide. The company was founded in the Cayman Islands, headquartered in Los Angeles, California. The company operates in 94 countries through a network of approximately 4.5 million distributors and independent members. Their products have been reported to cause liver damage. The company has been criticized before, among other things, hedge fund manager Bill Ackman of Pershing Square Capital, who claimed that Herbalife was running a "sophisticated pyramid scheme" after taking a short position of $1 billion in Herbelife shares. Herblife agreed to a "fundamental restructuring" of its business, in the United States but not around the world, and a $200 million fine as part of a 2016 settlement with the U.S. Federal Trade Commission (FTC) after accusations that it was a pyramid scheme. In November 2017, Ackman's hedge fund closed its short position in Herblife.