FTC Takes Decisive Action Against Amway
Agency alleges MLM misled recruits about earnings, pressured distributors to buy products and encouraged fake retail sales.
EFT Holdings
April 2016: More named plaintiffs voluntarily dismissed their claims, the reasons for which have not been disclosed.
May 2015: Several named plaintiffs voluntarily dismissed their claims When a complaint is dismissed without prejudice, an amended version of the complaint can be refiled., the reasons for which have not been disclosed.
October 2014: This lawsuit was consolidated with another lawsuit, Li et al v. Jack J. Qin, EFT Holdings, Inc. et al. (Case No. 13-cv-8832, C. D. CA.)
November 2013: A class-action lawsuit was filed alleging that, among other things, EFT Holdings, Inc. is operating a pyramid scheme and claiming that consumers can make money by recruiting new members when, in reality, most members do not make any money. (Li et al v. EFT Holdings, Inc., Qin, and Does 1-10, Case No. 13-cv-08835, C. D. CA.).
For more information about other class-action lawsuits regarding pyramid schemes and TINA.org’s coverage of the issue, click here.
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