News Summary: Herbalife critic favors FTC probe

News Summary: Ackman applauds consumer group's request that FTC investigate Herbalife

Associated Press

NEW YORK (AP) -- ACKMAN REACTS: Hedge fund manager William Ackman welcomed the National Consumers League's request that the Federal Trade Commission investigate whether Herbalife is a pyramid scheme. The consumer group wants the FTC to investigate claims against Herbalife as well as the company's responses.

HERBALIFE RESPONDS: The vitamin and supplement products company said in response that perhaps Ackman's Pershing Square should be investigated, saying its actions are motivated by its decision to bet against the stock.

SOUNDING OFF: Herbalife Ltd. maintains it is a financially strong company that has created meaningful value for shareholders.

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