FTC to return $200 million to 350,000 Herbalife victims
As part of the “we’re not a pyramid scheme, *winkwinknudgenudge*” settlement Herbalife reached with the FTC last year, $200 million will be returned to 350,000 Herbalife victims.
Quoting Jessica Rich, Director of the FTC’s Bureau of Consumer Protection, a January 10th press-release issued by the FTC reads;
We are pleased to announce that hundreds of thousands of hard-working consumers victimized by Herbalife’s deceptive earnings claims will receive money back.
Along with changes the company will make to its business structure, this is a win for consumers.
Which Herbalife affiliates qualified for a share of the $200 million was determined via FTC analysis of Herbalife’s records.
Generally, the FTC is providing partial refunds to people who ran an Herbalife business in the United States between 2009 and 2015, and who paid at least $1,000 to Herbalife but got little or nothing back from the company.
Most checks are between $100 and $500; the largest checks exceed $9,000.
The next phase of the FTC settlement will see Herbalife implement a retail centric compensation plan for their US market.