http://www.digitaljournal.com/business/business/herbalife-says-ftc-opens-inquiry-will-cooperate/article/375910

Herbalife says FTC opens inquiry long sought by Ackman

Posted Mar 12, 2014 by Diane Bartz and Svea Herbst-Bayliss (Reuters)
Herbalife Ltd said on Wednesday that the U.S.
The Herbalife logo is seen on a building housing some of their offices in downtown Los Angeles  Cali...
The Herbalife logo is seen on a building housing some of their offices in downtown Los Angeles, California
� Lucy Nicholson / Reuters, Reuters

(Reuters) - U.S.-based nutrition and weight loss company Herbalife Ltd on Wednesday said the U.S. Federal Trade Commission opened an inquiry into its operations.

Herbalife, which has been accused by hedge fund manager William Ackman of running a pyramid scheme, said it would "cooperate fully" with the FTC.

"Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace," the company said in a statement. "We are confident that Herbalife is in compliance with all applicable laws and regulations."

Trading in Herbalife shares was halted.

(Reporting by Phil Wahba in New York; editing by Andrew Hay)