Amid reports that Herbalife Ltd. is under criminal investigation, the securities plaintiffs bar has finally pounced on the controversial nutritional supplements company.
Glancy Binkow & Goldberg and Pomerantz brought suit earlier this week in U.S. district court in Los Angeles, alleging that Herbalife defrauded its shareholders by covering up that it’s a pyramid scheme. And now Lieff Cabraser Heimann & Bernstein is recruiting Herbalife shareholders for potential litigation of its own, according to a firm press release on Friday. Although Lieff Cabraser partner Sharon Lee said in an interview that the firm hasn’t yet brought suit against Herbalife, it’s opened an investigation based on the class action filed by Glancy Binkow and Pomerantz.
