NEW YORK--(BUSINESS WIRE)--Pershing Square Capital Management, L.P. (“Pershing Square”) today released the fourth in a series of videos showing that Herbalife continues to make false and misleading claims about its fraudulent business opportunity to entice new recruits into their pyramid scheme. The videos are available at www.FactsAboutHerbalife.com.
Today’s video features Herbalife President’s Team member Garrain Jones and members of his downline making false and misleading claims about the company in 2016. In the video, Jones proclaims:
Think about this. You can make as much money as you want. … It’s going to be hard. But it will be worth it when you’re looking at your mom and say, ‘mom, here’s the keys to your house, your dream house.’ It’s going to be worth it when your unborn children already got their college tuition paid for right now.
Despite his misleading claims, Jones has been promoted by Herbalife as a role model to other distributors. The company recently sent him on its “Leadership Development European Tour,” where Jones spoke on stage about Herbalife.
Herbalife’s compensation plan incentivizes recruiting which fosters misleading and fraudulent distributor behavior. Herbalife remains a pernicious pyramid scheme in which 99% of distributors earn less than minimum wage and 86% earn $0 from the company.
To watch the videos and learn more about Herbalife visit: www.FactsAboutHerbalife.com.
About Pershing Square Capital Management, L.P.
Pershing Square Capital Management, L.P. ("Pershing Square"), based in New York City, is a SEC-registered investment advisor to investment funds. Pershing Square manages funds that are in the business of trading — buying and selling — securities and other financial instruments. Funds managed by Pershing Square are short the stock of Herbalife Ltd. and own put options on the company. Pershing Square may increase, decrease, dispose of, or change the size or form of its investment in Herbalife for any or no reason, at any time. Pershing Square may change its views about or its investment positions in Herbalife at any time, for any reason or no reason. Pershing Square may buy, sell, cover or otherwise change the form or substance of its Herbalife investment. Pershing Square disclaims any obligation to notify the market of any such changes. Please see the full Disclaimer appearing on website www.factsaboutherbalife.com and www.herbalifepyramidscheme.com.