By: John Villafranco
The Supreme Court issued an 8-to-1 decision on June 22 in the highly anticipated case of Liu v. SEC. The opinion, authored by Justice Sotomayor (with Justice Thomas dissenting), holds that a “ disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for victims is equitable relief,” and allows the Securities and Exchange Commission (SEC) to seek such relief under the Securities Act.
Without warning, company restructures compensation plan to single-level; field leaders stunned
By Teresa Craighead
The sudden announcement has created speculation throughout the channel, with [experts] asking why a company with $472 million in revenue would choose to so dramatically change its business model, seemingly overnight.
“The FTC has basically told us what the right way to do business is. [FTC Associate Director] Lois Greisman has repeatedly said ‘look to the settlement’, ‘look to the MLM business guidance.’ This seems to be a pretty clear indicator they weren’t kidding around.”
—Al Bala, CEO Mannatech