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VOL. 129 | NO. 50 | Thursday, March 13, 2014

Herbalife Facing FTC Inquiry

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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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 133 9,499
MORTGAGES 89 164 11,910
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 161 403 21,081
BANKRUPTCIES 64 106 7,442
BUSINESS LICENSES 17 33 3,345
UTILITY CONNECTIONS 114 225 11,504
MARRIAGE LICENSES 25 53 2,656

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