NY Post, FTC Probe of Herbalife NYSE:HLF “Pending”
NY Post, FTC Probe of Herbalife NYSE:HLF “Pending”
NUS
The US Federal Trade Commission FTC released 192 complaints filed against Herbalife Ltd. over the past 7 yrs in response to a Freedom of Information Act request filed by the New York Post. In an exclusive report today, the Post says that some of the complaints “contained a note referring to a ‘pending law enforcement action’, but did not say whether the action was civil or criminal.”
Herbalife is the target of a detailed charge by Pershing Square Capital Management chief William Ackman that the company is a “pyramid scheme.”
Mr.Ackman has built up a large short position in Herbalife stock, and while there are plenty of others who believe he is wrong, including activist investor Carl Icahn and hedge fund manager Dan Loeb the threat that the FTC will take some action against the nutrition and weight-loss firm will send investors running for the exits.
Just a week ago the FTC announced an investigation into an unnamed illegal pyramid scheme, and shares of both Herbalife and Nu Skin Enterprises Inc. NYSE: NUS dove.
Even the fact that the investigation did not ultimately involve either firm indicates how jittery investors are about multilevel marketing firms like Herbalife.
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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