TV News LIES

Thursday, Jun 22nd

Last update05:20:13 AM GMT

You are here News Health FTC Opens Investigation into Herbalife; Shares Plunge

FTC Opens Investigation into Herbalife; Shares Plunge

E-mail Print PDF

HerbalifeThe Federal Trade Commission has opened a probe into Herbalife. The stock, which had been halted, is now trading down 14%. Before the news came out, it was up 4.45%.

Herbalife confirmed that they received a Civil Investigative Demand from the FTC.  

"Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully with the FTC.  We are confident that Herbalife is in compliance with all applicable laws and regulations.  Herbalife is a financially strong and successful company, having created meaningful value for shareholders, significant opportunities for distributors and positively impacted the lives and health of its consumers for over 34 years," the company said in a statement.

A spokesperson for the FTC would not comment on the matter. A spokesperon for Pershing Square Capital Management also declined to comment on the investigation.

Herbalife, a multi-level marketing firm that sells weight loss products and nutritional supplements, has been at the center of a major hedge fund battle.

Hedge fund manager Bill Ackman, who runs Pershing Square Capital Management, announced about 14 months ago that he is betting $1 billion that the stock will go to $0.  Ackman's thesis is that the company operates as a "pyramid scheme" that targets lower income individuals, particularly those from the Hispanic population.

More...


Most Recent Related Stories...


Senate GOP brings Obamacare repeal bill out of the shadows

Health care billSenate GOP leaders on Thursday finally released their secret health-care reform bill, which would repeal Obamacare...

Supreme Court speeds copycat biologic drugs to market

SCOTUS speeds copy-cat drugs to marketThe U.S. Supreme Court on Monday cut the time it will take for copycat versions of...

Extra virgin olive oil staves off Alzheimer's, preserves memory, new study shows

Extra virgin olive oil helps memory lossTemple University research shows extra-virgin olive oil protects against memory loss, preserves the ability to learn...

CDC: 1 in 7 people in the United States has kidney disease

One in seven in US have kidney diseaseThirty million American adults have chronic kidney disease -- but many don't know it.That rate --...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!