Herbalife down 5% on incriminating comments from former CEO
Published: Feb 11, 2019

Herbalife down 5% on incriminating comments from former CEO on entertainment spending in China

Feb. 7, 2019 12:21 PM ET|About: Herbalife Ltd. (HLF)|By: , SA News Editor 

Herbalife Nutrition (HLF -4.9%) is down on double normal volume on the heels of a WSJ article about comments made years ago by former CEO Richard Goudis to a colleague working in Hong Kong or mainland China to ignore the company's expense account limit on entertaining.

His comments are important considering the U.S. Department of Justice's ongoing investigation into alleged bribery by company representatives in China to win business. Mr. Goudis was CFO at the time.