U.S. officials announced a broad range of actions against nutritional supplement companies Tuesday, alleging some made deceptive claims about the effectiveness of their products.
Shares of GNC, Vitamin Shoppe and Herbalife all fell earlier in the day after federal agencies, including the Department of Justice, Federal Trade Commission and Food and Drug Administration, announced they would release results of an investigation. However, none of those companies were implicated in the probe, and their stocks gradually gained back some ground from the drop that hit the entire sector.
GNC plunged 22 percent at one point to a more than three-year low. It closed down 6.4 percent, while Vitamin Shoppe and Herbalife ended the day about 4.9 percent and 1.5 percent lower, respectively.