FTC launches investigation into Herbalife
In response, Herbalife issued the following statement: "Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully with the FTC. We are confident that Herbalife is in compliance with all applicable laws and regulations.
Herbalife is a financially strong and successful company, having created meaningful value for shareholders, significant opportunities for distributors and positively impacted the lives and health of its consumers for over 34 years."
Shares of Herbalife were up 4.5 percent at $68.30 on Wednesday before trading in its shares was halted. When the shares resumed trading before 2 p.m., they immediately fell more than 15 percent. ■