Herbalife Issues Statement on Friday's Appearance by Bill Ackman on CNBC
Herbalife (NYSE: HLF) issued the following statement regarding Bill Ackman's appearance Friday on CNBC:
On CNBC today Mr. Ackman continued to misrepresent Herballife.
With regard to his inaccurate statements regarding the company's “buyback policy,” there are minimal restrictions on returning products to Herbalife for both new and long-term distributors. Additionally, there is a one-year product repurchase guarantee for all distributors who leave the business and wish to return re-saleable product.
The company has further repurchase policies for specific products and programs. For example, distributors are guaranteed money-back on their International Business Pack if they choose to resign within 90 days of signing-up.
Herbalife is a financially strong and successful company, having created meaningful value for shareholders, significant opportunities for distributors and positively impacted the lives and health of our consumers over our 32-year history.
On January 17, 2013, Herbalife issued a press release pre-announcing positive fourth quarter 2012 financial results; the company expects to exceed or be within the range of previously announced guidance. The release also noted that the company expects to begin repurchasing shares of Herbalife stock, pursuant to its existing share repurchase authorization of $1 billion, of which $950million remains available.
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