UPDATE 1-Herbalife shares sink after report of law enforcement probe

(Adds Herbalife comment, background)

Feb 4 (Reuters) - Herbalife Ltd shares fell 10 percent in premarket trading on Monday after a newspaper reported the seller of weight loss products is facing a law enforcement probe.

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.

Herbalife said that for a direct selling company of its size it has had relatively low number of complaints to the FTC, the U.S. government's consumer watchdog.

"However, we take every one of them seriously and stand by our record of doing right by our distributors and all consumers of our products," an Herbalife spokesman said in an email.

The FTC was not immediately available to comment.

Herbalife has been in the spotlight since December when activist hedge fund manager William Ackman revealed a short position in the stock and called the business "a pyramid scheme".

Herbalife shares fell to $31.46 premarket from their close on Friday at $35.07 on the New York Stock Exchange.

(Reporting by Martinne Geller in New York; Editing by Jeffrey Benkoe and Nick Zieminski)