The NYSE has suspended trading Herbalife Nutrition (HLF) -12.0%) because of volatility in reports that U.S. prosecutors have indicted him in a criminal case related to bribery in China.
Develop ….
Update: In May, the company announced that it had in principle reached an agreement with the SEC and US Department of Justice (DOJ) to regulate its investigation into its compliance with the Foreign Corrupt Practices Act in China during the period 2006 – 2016 The deal included a three-year deferral follow-up agreement and a total fine + accrued interest of $ 123M for which it set up a reserve (Q2 10-Q, page 21) (previously disclosed).
In September 2019, it agreed to pay $ 20 million to pay SEC charges over false and misleading statements related to its business model in China.
Hedch fund honcho Bill Ackman held a substantial short position in the company he left in 2018 after failing to convince authorities that the company operated an illegal pyramid scheme.
Update: Shares down 5% on repetition of trade.
Update: The company settled the case for $ 122 million, including a $ 55 million fine and $ 67 million to pay to the SEC. It admitted that it “deliberately and intentionally” conspired with others to give corrupt payments and benefits to Chinese government officials. Shares down 2% at more than a 7x increase in volume. 
