Market Overview

Nerium International Announces Settlement with Nerium Biotechnology

Share:

After nearly three years of litigation, trial between Nerium
International and Nerium Biotechnology was set to start on July 30th.
Nerium International was looking forward to our day in court to address
the frivolous claims against the Company as well as recover damages for
NBI's breaches of contract. Coming into the trial, we had already
achieved a string of significant rulings in our favor including the
denial of NBI's motion for an injunction, the summary judgment ruling,
and even some recent positive rulings since our last update.

We are pleased to announce that we were able to negotiate a favorable
settlement with Nerium Biotechnology. There will be no further court
hearings or rulings on this issue. As part of the settlement, the
pending litigation with Nerium Biotechnology in Hong Kong is also
resolved, which will allow us to expand our product offerings in that
important market.

Nerium International's executive team is pleased to inform you that we
are moving forward with business as usual. Under terms of the agreement,
Nerium International purchased Nerium Biotechnology's minority ownership
interest in Nerium International at a great value. This allows us to
take 100% control over the future of Nerium International and allowed us
the opportunity to protect our brand partners' businesses.

We are excited to move forward and have never been more confident in our
future. With this distraction behind us, we will be able to focus fully
on our cutting-edge portfolio of products and supporting our brand
partners to help them continue to grow their business.

Nerium Executive Management Team

Jeff Olson, Founder & CEO

Deborah Heisz, Co-CEO

Bo Short, President

Brad Wayment, President Global Markets

Amber Olson Rourke, Chief Marketing Officer

Renee Olson, Chief Leadership Officer

Eric Haynes, Chief Legal Officer

Christi Clinger, Chief Operating Officer

Mark Nicholls, Chief Financial Officer

About Nerium International

Based in Addison, TX, Nerium
International
is a global relationship marketing company with
age-fighting products crafted from cutting-edge research and science.
Founded in 2011, Nerium International has shattered industry sales
records while developing a strong customer base in North American, Latin
American, Asia-Pacific and European markets. This unprecedented success
has allowed Nerium International to generate $1.5 billion in cumulative
sales after six years. Nerium International was recognized for its
historic growth by ranking No. 1 on the 2015 Inc. 500 List of
fastest-growing private U.S. companies in consumer products and services
and No. 12 in overall, as well as No. 38 on the 2016 Direct Selling
News'
Global 100 List. Led by an executive leadership team with vast
domestic and international experience, Nerium International is committed
to providing an excellent product line based in real science and
providing its Independent Brand Partners with a life-changing and
outstanding business opportunity through relationship marketing. For
more information, please visit: https://www.nerium.com/.

View Comments and Join the Discussion!