A Major Consumer Protection Organization Wants The FTC To Check Out Herbalife
"Herbalife’s business practices have recently come under intense investor scrutiny, and NCL is now calling on federal regulators to examine both the claims lodged against Herbalife and Herbalife’s responses," wrote the NCL in a press release.
The recent scrutiny was triggered by Bill Ackman and his hedge fund Pershing Square Capital.
Ackman has accused Herbalife of being an illegal pyramid scheme, and he's convinced the stock will go to $0.
Pershing Square was quick to file its response, which Business Insider has obtained.
Pershing Square Capital Management, L.P. Issues Statement Regarding National Consumers League’s Call for FTC Investigation into Herbalife
NEW YORK, March 12, 2013//-Pershing Square Capital Management, L.P. (“Pershing Square”) today released the following statement regarding the National Consumers League’s request for the Federal Trade Commission to investigate Herbalife as a potential pyramid scheme.
“We are pleased that the National Consumers League, the nation's oldest and one of the most respected consumer protection organizations, has requested that the FTC launch an investigation of Herbalife. We believe that a thorough investigation of Herbalife will reveal it to be a pyramid scheme that has harmed millions of consumers in more than 80 countries around the world.”
The National Consumers League’s letter to the FTC can be seen here: http://www.nclnet.org/images/PDF/ftc%20letter%20on%20herbalife.pdf
The National Consumers League’s press release regarding the letter can be seen here: http://www.nclnet.org/newsroom/press-releases/750-national-consumers-league-calls-on-ftc-to-investigate-allegations-against-herbalife
Please go to www.factsaboutherbalife.com to learn more about the company.