Youngevity, a publicly traded MLM company under the stock code YGYI, has been delisted by The Nasdaq Stock Market. The decision follows a hearing by NASDAQ, finding that Youngevity failed to comply with filing requirements.
Youngevity @ BehindMLM
Youngevity’s long-running dispute against Wakaya Perfection and several individual defendants, has come to an end. On November 10th a settlement conference was held, revealing agreements had been reached by all parties involved.
Youngevity’s long-term financial auditor has quit following concerns over provided financial data. Citing “information that has come to its attention”, the firm Mayer Hoffman McCann has resigned as Youngevity’s accounting. Mayer Hoffman McCann had been signing off on Youngevity’s filed financial reports since 2011.
The drawn out legal battle between Youngevity and Wakaya Perfection has finally received a tentative trial date. March 22nd, 2021 is the date set, following a pretrial conference held on October 5th.
Youngevity has filed suit against Bulavita for trademark infringement, cybersquatting and unfair competition.
The FTC has issued a second COVID-19 warning to major players in the MLM industry. This time around the regulator is citing examples of marketing fraud from Youngevity, Melaleuca, Isagenix, Juice Plus+, Plexus Worldwide and Vivri.
Youngevity’s dispute with Wakaya Perfection dates back to 2016. As I write this there are currently 679 filings in the long-running case, most of which are administrative. As such I’ve been keeping updates on the case to a minimum, preferring to wait for substantial developments. As per an order made on December 26th, the case [Continue reading…]
Andre Vaughn was a former Youngevity top distributor, who jumped ship for Wakaya Perfection in late 2015. Wakaya Perfection cite Vaughn as a “Founding Ambassador”, and list him first on the “Field Leaders” section of their website. On June 18th, Vaughn was sentenced to ten months in prison for repeated instances of bankruptcy fraud.
Last we checked in Wakaya Perfection’s lawsuit against Youngevity had been dismissed. Wakaya Perfection filed an appeal shortly after the decision in the Tenth Circuit. The Tenth Circuit overturned the case, kicking it back to the Utah Central Division District Court. Youngevity’s next move was to file a motion to stay proceedings, which was granted [Continue reading…]
The beef between Wakaya Perfection and Youngevity dates back to 2016. Our reporting initially covered Youngevity’s lawsuit in California, which alleged Wakaya Perfection was founded on stealing business from Youngevity. Wakaya Perfection filed their own lawsuit in Utah, over breach of contract and “tortious behavior”. Wakaya Perfection’s lawsuit was subsequently moved to federal court, wherein Youngevity [Continue reading…]