Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.
As first disclosed by the company in January 2017, Herbalife in its latest annual report said the Securities and Exchange Commission and the Department of Justice are “mainly focused on the company’s China external affairs expenditures, its China business activities, adequacy of, and compliance with, the company’s internal controls in China, and accuracy of the company’s books and records relating to its China operations.”
