Herbalife Nutrition Ltd. has set aside $40 million to resolve foreign bribery probes centered on its business in China, the Wall Street Journal reported. The Los Angeles-based multilevel-marketing company is in negotiations with the U.S. Justice Department and U.S. Securities and Exchange Commission to resolve the investigations, which focus on its compliance with the Foreign Corrupt Practices Act, the company said in its annual report. Herbalife said that it couldn't predict the exact timing of a possible settlement. The provision, which represents the cost the company could incur as a result of any settlement, was recorded in the annual report on Feb. 18. Last year, two former Herbalife executives, both Chinese nationals, were indicted in the U.S. on criminal and civil charges of violating the FCPA.
