Herbalife Says NY Post Story Wrong
We noted earlier today that the New York Post ran an exclusive story this morning saying that the Federal Trade Commission (FTC) has a "pending" investigation into charges against Herbalife Ltd. (NYSE: HLF).
Herbalife has issued the following statement:
Other than the voluntary dialogue with regulators, which we communicated on our January investor day, we are unaware of any other regulatory interest and/or investigation. We are demanding a correction from the NY Post.
Since its founding in 1980, Herbalife has positively impacted the lives and health of consumers. For a direct selling company of our size, we have had a relatively low number of complaints to the FTC. However, we take every one of them seriously and stand by our record of doing right by our distributors and all consumers of our products.
There you have it. That Herbalife is "unaware" of a "pending" investigation probably should go without saying. Herbalife's statement hit the share price again, which had risen an intra-day high of over $34. Shares are now down about 4.5% at $33.52.
Filed under: 24/7 Wall St. Wire, Food, Law, Regulation Tagged: HLF