The Los Angeles office of the Securities and Exchange Commission has concluded its investigation into Herbalife Ltd. and will not seek any action against Herbalife.
The SEC office had looked into the timing of trading in Herbalife securities by a former mid-level employee as well as the extent of personal use of Herbalife products by the company's independent distributors.
In November 2007, Herbalife voluntarily disclosed the investigation, and, in a statement said that during the past eight months, the company fully cooperated with the SEC during the course of the investigation.
Los Angeles-based Herbalife (NYSE: HLF) is a global network marketing company that sells weight-management, nutrition, and personal care products.
