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MetabolifeMetabolife is an American corporation based in Utah which manufactures dietary supplements. Metabolife's best-selling product, an ephedra-based supplement called Metabolife 356, once generated over $1 billion in annual sales.[1] However, Metabolife 356 and other ephedra-containing supplements were linked to thousands of serious adverse events, including deaths, culminating in a ban on ephedra-containing dietary supplements as unsafe by the United States Food and Drug Administration in 2004. Additional recommended knowledgeMetabolife founder Michael Ellis was indicted on 8 counts of making false statements to the FDA in an effort to obstruct regulation of ephedra.[2][3] Metabolife was also investigated by the Internal Revenue Service and the Department of Justice for income tax evasion; ultimately, the company pled guilty to filing fraudulent tax returns and was sentenced to pay a criminal fine of $600,000.[4] Metabolife owner William Bradley also pled guilty to evading millions of dollars in taxes and was sentenced to 6 months in federal prison and 2 years of probation.[5][6] In response to falling sales, and facing more than $1 billion in personal injury legal claims related to Metabolife 356,[7] Metabolife filed for Chapter 11 bankruptcy in 2005.[8] The company's furnishings and property, including a large collection of artwork, were liquidated in late 2006 to compensate creditors and settle outstanding personal-injury claims.[9] This company is now owned by Ideasphere Inc. [10]. They do a complete refresh of their product line at the moment. The Metabolife community is accessible via [11]. References
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This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Metabolife". A list of authors is available in Wikipedia. |