SEC Giving ‘Every Consideration’ to Herbalife Concerns

The U.S. Securities and Exchange Commission is giving “every consideration” to concerns raised by Senator Edward Markey that Herbalife Ltd. may be a pyramid scheme, the agency’s chairman said in a letter dated today.

The SEC didn’t tell Markey, a Massachusetts Democrat, whether it has opened an investigation into Herbalife’s business practices or accounting, according to the letter, which was released today by the senator’s office. Chairman Mary Jo White was responding to Markey’s January request for the SEC and the Federal Trade Commission to investigate the company.