Senator Calls for Investigation of Herbalife
Company has been accused of running a pyramid scheme
Sen. Edward J. Markey is urging federal regulators to investigate the business practices of Herbalife Ltd., making him the most prominent figure yet to express concern about the Los Angeles maker of nutrition and personal care products.
Herbalife shares were down about 12% Thursday morning on reports of Markey's intervention.
The Massachusetts Democrat asked the Securities and Exchange Commission and Federal Trade Commission to investigate Herbalife, saying he had "serious questions" about the way the company pays its independent sales staff.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?