HERBALIFE: MEDIA MATERIALLY MISSTATES FTC OUTCOME, ICAHN FILES POTENTIALLY QUESTIONABLE STATEMENT WITH SEC
- FTC Commissioner Ramirez stated during the FTC's press conference that press reports claiming the “FTC confirmed Herbalife to not be a pyramid scheme” were "inaccurate"
- The misleading statement that “the FTC concluded Herbalife was not a pyramid scheme” was in an early morning Carl Icahn press release, subsequently filed with the SEC in a 13D/A
- MLM attorney and advocate for the industry Kevin Thompson stated that this settlement “does not represent the end of the FTC process with Herbalife”
- Adamant Herbalife long John Hempton noted on his blog and on Twitter that “If Herbalife is a pyramid scheme, the conditions imposed will cause it to collapse”
- Substantive risk remains as FTC and Pershing Square engage international jurisdictions with the agency’s findings and the SEC concludes its investigation into the company
Full report: http://hvst.co/2b1ybTI
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