Herbalife (HLF) Under Massive Pressure Ahead of FTC Call; Short Sale Rule in Effect

January 28, 2013 11:37 AM EST
Herbalife (NYSE: HLF) continues lower ahead of 1PM ET FTC conf. call to discuss "pyramid scheme." It is unclear if HLF is involved.

"The Federal Trade Commission will co-host a press conference in Lexington, KY, today at 1 p.m. ET (Noon Central Time), with the Kentucky Attorney General’s office, to announce a major action against an allegedly illegal pyramid scheme."

Herb Greenberg, for one, doesn't think the conf call has anything to do with HLF. Others see a more aggressive FTC with Herbalife in the cross-hairs due to Bill Ackman.

Shares of HLF last traded at $39.21, down 10%. The short sale rule is now in effect.

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