The FTC has been denied monetary relief in their fraud case against Neora. The decision is undoubtedly a blow to the regulator’s enforcement efforts.
Nerium @ BehindMLM
Last December a settlement report revealed that, despite engaging for over a year, the FTC and Neora were unable to reach a settlement. In the wake of the AMG Supreme Court decision, both parties were directed to file a “Joint Report regarding Alternative Dispute Resolution”.
Despite negotiations taking place for over a year, at present a settlement between the FTC and Neora looks unlikely. As per a settlement report filed on December 9th, the parties advise;
As per the FTC’s Neora case docket, a three-week bench trial has been scheduled for October 11th, 2022. No that’s not a typo, the trial is two years away.
Neora’s “we want to legalize pyramid schemes” lawsuit against the FTC has been dismissed.
Neora’s bid to dismiss the FTC’s pyramid scheme case against it has been rejected. The company did however manage to get the case moved to Texas.
Almost a year ago to the day, Mark and Tammy Smith’s lawsuit against Neora was ordered into arbitration. The decision was appealed but I believe ultimately Neora prevailed in getting arbitration held in Texas. On June 1st 2020, The Smiths filed a voluntary notice of dismissal.
Neora has moved to dismiss the FTC’s pyramid scheme lawsuit against it. The company argues the FTC’s lawsuit should be dismissed, owing to it filing a “duplicative” lawsuit first in Illinois. In the alternative, Neora wants the FTC’s New Jersey lawsuit moved to Illinois or Texas.
An FTC investigation has revealed less than 1% of commissions paid out by Neora were tied to retail sales. Rather than admit the company operated as a pyramid scheme, Neora is suing the FTC.
The FTC has filed a lawsuit against the MLM company Neora (formerly Nerium), and owner Jeff Olson. According to the FTC, Neora has operated as a pyramid scheme since inception as Nerium International in 2011.