Recently challenged over company business practices by U.S. Sen. Edward Markey (D-Mass.), Herbalife Ltd. executives recently met with congressional staff to tell the company’s story and discuss its direct-sales practices. information about markey’s requests that the U.S. Federal Trade Commission and U.S. Securities and Exchange Commission investigate the nutritional supplements company appears in issue 19 of this Report.
During an interview after the meeting, Herbalife CFO John Desimone reportedly said, “We’re out here just telling our story, educating, being transparent. this was a start to that process.” according to a news source, the company, which has compared its practices to those of avon and amway, titled its session on Capitol Hill “Direct selling: an american tradition.” See The New York Times, February 20, 2014; Bloomberg News, February 21, 2014.