NEW YORK -- Herbalife stock fell more than 6% after the New York Post reported the company was subject to an unspecified law-enforcement investigation.
In early trading on Wall Street, Herbalife shares lost $2.25, or 6.42%, to $32.82. Herbalife's stock is off 44% from where it was a year ago.
The Post cited documents the newspaper obtained through a Freedom of Information Act request from the Federal Trade Commission.
According to the Post, the FTC cited "pending law-enforcement action" and withheld some information the Post requested about Herbalife. The newspaper said the FTC released 729 pages of complaints against Herbalife.
An FTC spokesman did not immediately return a request for comment early Monday.
[Updated, 10:31 a.m. Feb. 4: An FTC spokesman would neither confirm nor deny the agency was investigating Herbalife.
The FTC said Monday it cited the wrong boilerplate legal language when replying to the New York Post’s FOIA request.
Instead of referring to a “law enforcement investigation” as an exemption used to justify withholding some information, the FTC says it should have cited an exemption involving complaints from a “foreign source,” meaning outside of the United States.