Herbalife Confirms Probe By Illinois Attorney General's Office

(RTTNews) - Nutritional supplement maker Herbalife Ltd. (HLF), which has been accused of operating as a pyramid scheme by hedge fund manager William Ackman, revealed Thursday that it was being probed by llinois Attorney General's office.

"We are confident in the integrity of our longstanding business and the Company's compliance with applicable laws and regulations. We look forward to working with the Illinois Attorney General's office to resolve the consumer complaints it has received", the company said in a brief statement.

The company said it has more than 15,000 members and many more thousands of satisfied customers in Illinois.

Earlier this month, there were reports that the U.S. Department of Justice and the Federal Bureau of Investigation have begun a criminal probe of the company.

However, the company denied having knowledge of any such probe.

Herbalife has been in the spotlight since late 2012 when Ackman took a $1 billion short position on the company's shares. He called the company's business model a pyramid scheme. Billionaire investor Carl Icahn came to Herbalife's rescue and became its largest shareholder.

Herbalife revealed last month that it received a civil investigation demand from the Federal Trade Commission.