Herbalife Faces Federal Inquiry

LOS ANGELES (March 12, 2014) Herbalife, the nutrition and supplement maker, says it received a civil investigative demand from the Federal Trade Commission Wednesday.

A representative of the FTC was not immediately available to comment.

Herbalife said it welcomes the inquiry, and said there is a "tremendous amount of misinformation in the marketplace" about its business.

The company said it believes it is in compliance with all laws and regulations and plans to cooperate fully.

The company made the announcement just a day after hedge fund manager William Ackman renewed his attacks on the company.

Ackman has repeatedly bet against the company and says he believes it operates as a pyramid scheme.

Herbalife Ltd.'s shares dropped more than 12 percent after a suspension in trading was lifted.

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