As you may already know, the FTC recently filed a complaint and obtained a preliminary injunction against Vemma, member of the Direct Selling Association (DSA) for running a pyramid scheme. On September 3, the FTC will be in a court room seeking a judge’s decision to uphold the injunction during legal proceedings.
This has been extended to September 15, 2015.
Many would agree the outcome of this hearing will set the tone for what’s in store for the remainder of the MLM industry. Many are also speculating that a victory against Vemma on September 3 will set the precedent for an injunction against Herbalife (NYSE:HLF) to be upheld if the FTC files a complaint when they conclude their investigation into the company. Not out of scope is whether the remainder of regulatory inquiries by the SEC, IL and NY Attorneys General, and DOJ will result in action against Herbalife. There’s a clear pattern with Vemma and prior pyramid schemes which have been brought to court by the FTC, it’s always included the assistance of State Attorneys General and it’s always resulted in a victory for the FTC.
To read the rest of this article: http://seekingalpha.com/article/3474916-vemma-shutdown-and-herbalife-the-apple-doesnt-fall-far-from-the-board-room
FTC filed preliminary injunction to halt Vemma’s pyramid scheme.
FTC has been investigating Herbalife for nearly 18 months.
Herbalife’s abuses mirror FTC complaints filed against Vemma all the way up to the CEO and Board Room.
Here some views on Building Fortunes Radio:
Check ot the Building Fortunes Radio site for Building Fortunes segment and FTC versus Vemma