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id: 480, Created by Stan Vick, Scout
Herbalife shareholders dilution Case
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On December 6, 2022, Herbalife (HLF) shares dropped more than 25% after the Company announced about a new $ 250 MM convertible debt offering, threatening to dilute shareholders by 20%.
Herbalife lost over $400 million of its capitalization, seriously damaging investors.
Earlier the Company reported a 9.5% decline in revenue and pulled its guidance. Herbalife's credit rating was also recently downgraded and announced the surprise departure of its CEO.
All the recent corporate developments rise concerns among investors about whether Herbalife, its Leaders and its Advisers act in the best interests of its shareholders.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
06 December 2022