Is the FTC ready to take on pyramid schemes?
It’s been more than a year since Bill Ackman publicly made a billion-dollar bet that Herbalife — a nutritional supplement company based in Los Angeles that’s traded on the New York Stock Exchange and brought in more than $4 billion in revenue in 2012 — is an illegal pyramid scheme. As The Verge outlined last month, Ackman’s billion-dollar bet has not gone well for the controversial hedge fund manager; Herbalife’s stock price has increased by about 230 percent in the last year, and Ackman is at least $500 million in the hole as a result.
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