Is Herbalife Ltd (NYSE:HLF) Lying?
Herbalife Ltd (NYSE:HLF), the global nutrition company, is set to release its 2013 Q3 fiscal results on 28 October 2013 and on the 29th, its senior management team is slated to host an investor conference call where the recent financial results will be discussed and an update on the current business trends will be provided.
In separate news, Tito Jackson, a Boston City Councilor has expressed some concerns over complaints that Herbalife Ltd (NYSE:HLF) is taking advantage of the disadvantaged segment of the population by offering them hope and income. Tito said that the people’s lives are riddled with debt and despair instead, and that his constituents are being harmed by the company.
He has made a note of all these concerns in his letter to the FTC and has urged the Chairperson, Edith Ramirez to conduct a thorough probe into the company’s sales and marketing activities. He said that he wants Boston residents and his constituents to be protected.
Playing on gullible minds
Jackson went on to emphasize that one of the things that he is focusing on, in his district is the promotion of economic development and he is working very hard to ensure that the residents of Boston are provided with opportunities to succeed on the personal front and help in promoting growth and prosperity of the city. He said that his work is undermined by the allegedly deceptive practices that Herbalife Ltd (NYSE:HLF) is following.
They target the minority population and play on their gullibility by promising them quick earnings. In effect, the company is draining the city’s workforce and also reducing their chances of moving ahead in their careers. Tito went on to say that only a minuscule percentage of the people were able to get return on their initial investments in the company and that it’s unscrupulous business practices were pulling the residents of Boston into the depths of debt.