NEW YORK--(BUSINESS WIRE)--Pershing Square Capital Management, L.P. (“Pershing Square”) today released the 18th 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 its pyramid scheme. The videos are available at www.FactsAboutHerbalife.com.
Today’s video features Herbalife President’s Team member Style Bell speaking at a webinar in September 2015. Mr. Bell claims:
“You guys are going to make a ridiculous amount of income. You can’t even imagine. … When I tell you what you think you’re going to get, it’s going to be times 10. What you think your life is going to be like, it’s going to be times a million and a hundred thousand. Listen to what I’m saying. It’s going to happen because of the value that you add to other people.”
99% of Herbalife distributors earn less than minimum wage and 86% earn nothing from the company. The small group that makes money does so primarily from recruiting, not retail sales. Herbalife distributors often mislead recruits by telling them that they can get rich with Herbalife. But even those distributors admit to recruits that just retailing the product isn’t enough to build a business. They need to recruit in order to have a chance to advance in the marketing plan and earn income from the company.
A company is deemed a pyramid scheme if the participants make money primarily from recruiting rather than sales to actual customers.
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.