MLM Company Vemma Shut Down by FTC - TINA.org

As reported yesterday, TINA.org announced Wednesday that MLM company Vemma Nutrition has in fact been shutdown by the FTC. The action comes after TINA.org conducted a two-year investigation of Vemma's marketing practices and filed complaints against the MLM company with the agency.

The news is seen as a potential negative for Herbalife (NYSE: HLF) and other MLM players like Nu Skin Enterprises (NYSE: NUS) and USANA Health Sciences (NYSE: USNA).

Notably, TINA.org has been aggressively going after Herbalife for what it calls a "pyramid scheme." Herbalife is also a major short target of hedge fund manger Bill Ackman and his Pershing Square Capital.

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