Herbalife Announces First-Quarter Charge

Herbalife International Inc., a seller of weight-loss and nutritional products, said it will take a first-quarter charge of between $8.5 million and $10.5 million from expenses related to a failed buyout by founder Mark Hughes. Hughes, who is also chairman and chief executive, said Monday he was withdrawing his $510-million offer for the company because of difficulties in arranging financing. Los Angeles-based Herbalife said the exact amount of the charge hasn’t been determined. It earned $11.7 million, or 38 cents a share, in last year’s first quarter. Class B shares of Herbalife fell $1.13 to close at $9.25 on Nasdaq. Class A shares, which also trade on Nasdaq, fell 75 cents to close at $10.88.