We're No Pyramid Scheme, Herbalife Tells Ackman

Law360, New York (June 12, 2013, 1:46 PM EDT) -- Herbalife Ltd. had a message Tuesday for short-seller Bill Ackman, who has called the company a pyramid scheme and unleashed a flood of information to back up his claims, telling him: We've got numbers, too.

The company released a study purporting to show that much of its product ends up in the hands of end users, rather than midlevel distributors.

That makes a key difference when regulators like the Federal Trade Commission try to determine whether a company is a legitimate distribution business, like Amway or...
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