Joe Weider Fitness

Weider Global Nutrition to Pursue Pending Lawsuit Against GLG Life Tech

SALT LAKE CITY, Nov. 12 /PRNewswire/ -- GLG-Weider Sweet Naturals ("Sweet Naturals") is a joint venture between GLG Life Tech Corporation ("GLG") and Weider Global Nutrition ("Weider"), combining GLG's knowledge of stevia and Weider's expertise in marketing, sales and distribution of health and nutritional products. In their Shareholders' Agreement, GLG and Weider stated their intention was to maximize stevia-based product sales through Sweet Naturals throughout the world. On October 14, 2009, however, GLG announced that it formed its own sales team for stevia-based products. On November 4, 2009, Weider filed a Statement of Claim against GLG with the Supreme Court of British Columbia in Canada, stating claims for breach of the Shareholders' Agreement, misrepresentations by GLG and its Chairman/CEO, and for breach of fiduciary duties. The Statement of Claim is a public court record.

Source: PR Newswire (press release)

Why Weider? The company stands the test of time

Weider fitness equipment is sold in virtually every mass-market sporting goods store. In the recent past, most casual fitness enthusiasts could claim to own at least one piece of Weider equipment. These days, the low-end sporting goods market is growing more competitive, but Weider is still strongly positioned to capture a large share of the business.

Later, Weider branched out from the publishing and promoting business and began selling dietary supplements and fitness equipment. At the time, he was the justly-deserved recipient of harsh criticism (and lawsuits) resulting from the outlandish marketing claims he used to sell his products. But he eventually got his act together and positioned his company as a reputable, low-cost supplier to beginner bodybuilders.

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News

Weider Global Nutrition to Pursue Pending Lawsuit Against GLG Life Tech

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