Receive Breaking News updates as they occur
The US Federal Trade Commission has opened a civil investigation into Herbalife, the nutritional products marketer announced Wednesday. Herbalife, which has been accused for more than a year by activist investor William Ackman of running a pyramid scheme, said it was "confident" it would be vindicated. "Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully with the FTC," the company said. "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."