The U.S. Federal Trade Commission opened a probe into Herbalife in 2014 following allegations by Ackman that the company was effectively a fraudulent pyramid scheme. (bit.ly/29Im6SB)Tough to implementThe agreement will be difficult to implement, said Robert FitzPatrick, who formed Pyramid Scheme Alert in 2000 to monitor and oppose pyramid schemes. The settlement comes a day after Ackman said he was still betting against Herbalife shares and that the FTC probe was unlikely to end well for the company. "Herbalife has agreed and the terms of the agreement are a devastation of the way they operate right now," he said. An Herbalife logo is shown on a poster at a clinic in the Mission District in San Francisco, California April 29, 2013.

Source: Thanhnien News July 15, 2016 15:22 UTC