Herbalife Nutrition Ltd. said it has reached an agreement in principle with U.S. authorities to resolve bribery investigations into its business activities in China.
Herbalife will likely pay about $123 million in penalties to resolve probes by the U.S. Department of Justice and Securities and Exchange Commission, the Los Angeles-based multilevel-marketing company said in a quarterly report to investors Thursday.
The probes, which the company previously disclosed, focus on Herbalife’s external affairs expenditures in China and its compliance with the U.S. Foreign Corrupt Practices Act.
The company said it was continuing to cooperate with U.S. authorities, and had taken steps to enhance its policies and procedures in China. An Herbalife spokeswoman didn’t immediately return a request for further comment.
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