Herbalife shares plunge
Herbalife's shares ended the day 14% lower after the publishing of a Financial Times article about the company. This article contains an allegation by hedge fund manager Bill Ackman that the company operates as a pyramid scheme. An unnamed law enforcement official confirmed to CNN on Friday that the U.S. Attorney's Office and FBI have been investigating Herbalife for several months. Herbalife has strongly defended itself against Ackman's claims, saying its business model is no different from other multi-level marketing firms. Herbalife claims that it has no knowledge of any ongoing investigation. The company's stock price fell last month after it announced that it was the subject of a civil inquiry by the FTC.
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