$40 million set aside by Herbalife for possible government settlement
In its recent 10-K filing, Herbalife Nutrition Ltd., a dietary and nutritional supplement company, disclosed that it has reserved $40 million as a potential settlement amount for previously disclosed Foreign Corrupt Practices Act investigations by the US Securities and Exchange Commission and the US Department of Justice. Herbalife previously disclosed that the investigations were focused on Herbalife's external affairs expenditures in China, as well as a more general review of the company's business in China and its books and records and internal controls. The company stated that it continues to cooperate with the SEC and the DOJ.