GO
Loading...

Herbalife says FTC opens inquiry, will cooperate

March 12 (Reuters) - U.S.-based nutrition and weight loss company Herbalife Ltd on Wednesday said the U.S. Federal Trade Commission opened an inquiry into its operations.

Herbalife, which has been accused by hedge fund manager William Ackman of running a pyramid scheme, said it would "cooperate fully" with the FTC.

"Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace," the company said in a statement. "We are confident that Herbalife is in compliance with all applicable laws and regulations."

Trading in Herbalife shares was halted.

Symbol
Price
 
Change
%Change
HLF
---