BurnLounge LLC: Multi Level Mondays
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Herbalife Defends Bill Ackman's Fundamentals
A panel of three Apple at Judges found Burn Lounge was a pyramid scheme because its members paid for the right to sell products. The rewards were primarily in return for selling the right to participate in the Money Making Venture The Mughal Program, Circuit Judge Morgan Christian wrote on behalf of the appeals panel. Herbalife declared the ruling undermined the position of its adversary Ackman. Pershing Square Capital Management LP characterized Herbalife's interpretation of the Burnlown's decision validating its business model as absurd.
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