case 2 14 cv 02850 dsf jcg document 82 filed 03 16 15 page 1 of 14 page id 3055 united states district court central district of california memorandum case ...
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...Case cv dsf jcg document filed page of id united states district court central california memorandum no jcgx date title in re herbalife ltd securities litigation present the dale s fischer judge honorable debra plato not deputy clerk reporter attorneys for plaintiffs defendants proceedings chambers order granting motion to dismiss docket their amended class action complaint acac allege that and officers michael o johnson desmond walsh john desimone violated federal laws by misrepresenting nature scope legality business operations according b exchange act rule as a legitimate multi level marketing company mlm when it is actually an illegal pyramid scheme violations give rise cause favor any purchaser or seller who has been injured fraudulent practices loos v immersion corp f d th cir prevail under plaintiff must prove six elements material misrepresentation omission scienter connection between purchase sale security reliance on economic loss causation at private reform pslra which gover...