» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 50 | Thursday, March 13, 2014

Herbalife Facing FTC Inquiry

Print | Front Page | Email this story | Comments ()

LOS ANGELES (AP) – Herbalife is facing an inquiry from the Federal Trade Commission.

The nutrition and supplement said Wednesday that it received the civil investigative demand from the FTC on Wednesday. A representative from the FTC was not immediately available to comment.

Herbalife says it welcomes the inquiry, noting a "tremendous amount of misinformation in the marketplace" about its business. The company says it believes it is in compliance with all laws and regulators and plans to cooperate fully.

The company announced this just a day after hedge fund manager William Ackman renewed his attacks on the company. Ackman has repeatedly has bet against the company and repeatedly said he believes it operates as a pyramid scheme.

Herbalife Ltd.'s shares plunged more than 12 percent after a suspension in trading was lifted.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.