Last $54.83 USD
Change Today +1.08 / 2.01%
Volume 4.6M
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herbalife ltd (HLF) Key Developments

Pomerantz LLP Files Class Action Lawsuit Against Herbalife

Pomerantz LLP announced the filing of a class action lawsuit against Herbalife Ltd. and certain of its officers. The class action, filed in United States District Court, Central District of California and docketed under 2:14-cv-02850, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Herbalife between May 4, 2010 and April 11, 2014 both dates inclusive (class period). This class action seeks to recover damages against the company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

Herbalife Ltd. Appoints Angela Arboleda as Vice President, Community Engagement and Health Policy

Herbalife Ltd. announced that Angela Arboleda, joins the company in the newly created role of Vice President, Community Engagement and Health Policy. Arboleda will work out of Herbalife's Washington, D.C. office and will report to Amy Greene, Vice President, Government Corporate and Investor Relations. Arboleda will be responsible for external relations activities including managing Herbalife's third-party relationships in minority communities including Hispanic, African American and Asian American. In addition, Arboleda will serve as the lead lobbyist for Democratic outreach and work on a variety of policy issues for the company. Arboleda joins Herbalife after a 17-year career in public service most recently as Senior Policy Advisor for Latino and Asian-American Affairs for the Office of Senate Majority Leader Harry Reid (D-NV).

Herbalife Ltd. Announces Board Nominees and Executive Retirements

Herbalife Ltd. announced that the board of directors will nominate for election to the Board at the company's 2014 annual general meeting of shareholders three designees of the Icahn Parties, Hunter C. Gary, Jesse A. Lynn and James L. Nelson. Mr. Gary and Mr. Lynn, who are employees of Icahn Enterprises L.P., will be nominated for election as Class I directors with terms that will expire at the company's 2016 annual general meeting of shareholders. Mr. Nelson, who is an independent director of Icahn Enterprises L.P., will be nominated for election to serve the remainder of the term of the Class II directorship that will be vacated by Colombe M. Nicholas. The term of that directorship will expire at the company's 2015 annual general meeting of shareholders. On March 22, 2014, Colombe M. Nicholas, a Class II member of the Board, notified the company that she would resign from her Board membership prior to the 2014 Annual Meeting. Carole Black and Michael Levitt also notified the company of their respective intentions to not stand for reelection to Class I directorships at the 2014 Annual Meeting.

Herbalife Ltd. Expands in Australia with the Opening of a New Sales Center in Sydney

Herbalife Ltd. announced the opening of a brand new sales center located in Sydney Olympic Park, expanding its operations in Australia and reflecting the growth Herbalife has been experiencing globally. The Sydney sales center is Herbalife's second operations facility in Australia, with its Australia and New Zealand regional office and warehouse based in Adelaide. Sydney Olympic Park was selected as the location for the Herbalife Sydney sales center due to it being situated in the centre of Sydney, and thus easily accessible to Herbalife Independent distributors and their customers. Equipped with best in class facilities, the sales center will provide a seamless Herbalife experience from product ordering to delivery, as well as a hub for Herbalife.

Herbalife Ltd. Declares Quarterly Dividend, Payable on March 18, 2014; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year 2014

Herbalife Ltd. reported that its board of directors has approved a quarterly dividend of $0.30 per share to shareholders of record March 4, 2014, payable on March 18, 2014. The company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net sales of $1,268,879,000 compared with $1,059,320,000 for the same period last year. Operating income was $181,859,000 compared with $159,793,000 for the same period last year. Income before income taxes was $178,957,000 compared with $157,340,000 for the same period last year. Net Income was $123,540,000 or $1.15 per diluted share compared with $112,207,000 or $1.00 per diluted share for the same period last year. Net income, as adjusted was $137,189,000 or $1.28 per diluted share compared with $112,207,000 or $1.00 per diluted share for the same period last year. For the full year, the company reported net sales of $4,825,308,000 compared with $4,072,330,000 for the same period last year. Operating income was $735,277,000 compared with $661,447,000 for the same period last year. Income before income taxes was $716,717,000 compared with $650,906,000 for the same period last year. Net Income was $527,525,000 or $4.91 per diluted share compared with $463,962,000 or $3.94 per diluted share for the same period last year. Net cash provided by operating activities of $772,875,000 compared with $567,784,000 for the same period last year. Purchases of property, plant and equipment of $146,958,000 compared with $121,524,000 for the same period last year. Net income, as adjusted was $577,383,000 or $5.37 per diluted share compared with $463,962,000 or $3.94 per diluted share for the same period last year. Net debt as at December 31, 2013 was $41,705,000. The company provided earnings guidance for the first quarter and full year 2014. For the first quarter ending March 31, 2014, the company expects diluted EPS as adjusted of $1.25 to $1.29, Cap Ex of $35.0 million to $45.0 million and effective tax rate of 27.5% to 29.5%. For the full year ending December 31, 2014, the company expects diluted EPS of $5.85 to $6.05, Cap Ex of $165.0 million to $185.0 million and effective tax rate of 28.0% to 30.0%. The company raises fiscal year 2014 adjusted diluted EPS guidance to a range of $5.85 to $6.05, reflecting the impact of the recent financial transactions and subsequent share repurchase.

 

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