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Judge dismisses pyramid lawsuit.
November 25, 2015
By: TOM BRANNA
A federal judge has dismissed a shareholder lawsuit against Herbalife Ltd and Chief Executive Officer Michael Johnson, claiming they misrepresented the weight-loss and nutritional products company's compliance with laws designed to prevent pyramid schemes. In a Nov. 23 decision, U.S. District Judge Dale Fischer in Los Angeles, who had dismissed two prior versions of the lawsuit, said the Oklahoma Firefighters Pension and Retirement System still failed to show the defendants made materially misleading statements or intended to deceive investors. Fischer dismissed the lawsuit with prejudice, meaning it cannot be brought again.
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