Okay, despite the headline, this has nothing to do with whether Herbalife’s actual products are kosher. For that, you would need to ask a rabbi. But activist short-seller Bill Ackman has been waging a war with Herbalife for two years to try to prove the company is a Ponzi scheme and its business practices aren’t kosher, and in response, the company has hired Pamela Jones Harbour, former FTC Commissioner, as the newly created head of compliance, as reported by Seeking Alpha.
Bill Ackman threatened a “death blow” to Herbalife, including prosecution. In response, CEO Michael Johnson has tried to prove the business model is sound and legal, and has solidified the company’s return policy and has revamped training of new distributors. Ms. Harbour’s influence is expected to further increase confidence in the legality of Herbalife’s business practices. Herbalife’s management continues to deny Ackman’s charges as “false and fabricated.”
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