Source: The FTC got it right on Herbalife settlement
The FTC rejected the years-long PR campaign funded by hedge-fund manager Bill Ackman, who demanded that the FTC brand Herbalife a pyramid scheme and shut it down. Instead, the FTC conducted a thorough investigation, weighed all of the facts, and upheld its statutory responsibility to enforce the law.
The result:
A settlement that addresses earnings misrepresentations made by some Herbalife distributors; provides an opportunity for Herbalife distributors who relied on misrepresentations to receive refunds; and, most importantly, incorporates Herbalife’s commitment going forward to stand as the embodiment and champion of best practices in the multi-level marketing industry.
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