TV News LIES

Wednesday, Jun 20th

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...


Theranos Founder and Former Chief Operating Officer Charged In Alleged Wire Fraud Schemes

Elizabeth Holmes of theranos indictedA federal grand jury has indicted Elizabeth A. Holmes and Ramesh “Sunny” Balwani, announced Acting United...

The American Medical Association has long opposed assisted suicide. Is that about to change?

Brittany Maynard brought attention to assisted suicide During his three decades as an emergency-room doctor, Bob Uslander had never written a prescription for...

Frustrated AMA adopts sweeping policies to cut gun violence

AMA adopts sweeping policies against gunsWith frustration mounting over lawmakers' inaction on gun control, the American Medical Association on Tuesday pressed...

Chemo may not be necessary for many breast cancer patients: study

Chemo may not be necessary for breast cancerMost women with the most common form of early-stage breast cancer can safely skip chemotherapy without...
 
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!