Herbalife (HLF) Loses Sales Method Case in Belgium
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Herbalife (NYSE: HLF) plans to appeal a recent Belgian Commercial Court judgment in a case brought by local consumer organization Test-Aankoop in 2004. The ruling states that Herbalife’s sales method violates current Belgian law on unfair commercial practices. It includes a maximum fine of 250,000 euros, should a court determine that any modifications the company makes to its business practices are inadequate to clarify compliance with the judgment.
While the Belgian market represents less than 0.65 percent of the company’s worldwide net sales, Herbalife remains fully committed to supporting its Belgian independent distributors and the large customer base they have built over the many years Herbalife has been in Belgium. The company firmly believes its sales method is in compliance with all applicable Belgian laws.
While the Belgian market represents less than 0.65 percent of the company’s worldwide net sales, Herbalife remains fully committed to supporting its Belgian independent distributors and the large customer base they have built over the many years Herbalife has been in Belgium. The company firmly believes its sales method is in compliance with all applicable Belgian laws.
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