FTC Investigates Herbalife After Billionaire's Campaign
The supplement company, long a target of hedge fund billionaire Bill Ackman, is under FTC scrutiny but says it welcomes the inquiry.By Alexis Rogers | March 12, 2014
The Federal Trade Commission confirmed it is investigating nutrition company Herbalife after allegations the company is running an illegal pyramid scheme.
The accusations come from Pershing Square hedge fund billionaire Bill Ackman, who in Dec. 2012 bet $1 billion on the stock’s collapse and demanded the company’s business practices be investigated. (Via CNN)
On Tuesday, Ackman also claimed Herbalife violated Chinese labor laws. (Via Business Insider)