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Ex-Herbalife Employee Subpoenaed in Safety Probe

Tuesday, 13 Aug 2013 03:53 PM

A former employee of Herbalife Ltd. has been subpoenaed by the New York State attorney general to produce internal documents regarding a 2011 safety concern about the company's weight-loss shakes, the New York Times reported on Tuesday.

The newspaper said that the nutritional supplement company had found fine shards of metal in some diet shakes at a plant in California in 2011. The problem was apparently resolved but an executive remained concerned about safety standards at the plant where the contaminated product was found, according to the report.
 
Herbalife's stock was down about 3.2 percent at $64.18 on the New York Stock Exchange on Tuesday afternoon after being in positive territory earlier in the day.
 
A Herbalife spokesman and the New York attorney general's office both said they had no immediate comment. The New York Times said that none of the tainted shakes ever reached consumers.
 
Herbalife has been the subject of intense scrutiny for many months in the $2.25 trillion hedge fund industry, with several major players betting for or against the stock.

© 2017 Thomson/Reuters. All rights reserved.

 
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A former employee of Herbalife Ltd. has been subpoenaed by the New York State attorney general to produce internal documents regarding a 2011 safety concern about the company's weight-loss shakes.
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2013-53-13
Tuesday, 13 Aug 2013 03:53 PM
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