Herbalife Denies Report of Regulatory Probe
Herbalife shares plunged Monday after a newspaper reported the seller of weight loss products is facing a law enforcement probe, which the company denied.
The New York Post reported it obtained documents from the U.S. Federal Trade Commission that mentioned a "law enforcement investigation" and "pending law enforcement action." The newspaper said the FTC did not say whether the action was civil or criminal.
In a statement, Herbalife disputed the Post report.
"Other than the voluntary dialogue with regulators, which we communicated on our January investor day, we are unaware of any other regulatory interest and/or investigation," the statement said. "We are demanding a correction from the NY Post."
Officials for the FTC were not immediately available to comment.
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