arset="UTF-8" /> Herbalife lowers forecast range for 2014 sales | Canyon Health
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A Herbalife logo is shown on a poster at a clinic in the Mission District in San FranciscoBy Svea Herbst-Bayliss BOSTON (Reuters) – Nutrition and weight loss products company Herbalife Ltd lowered its forecast range for 2014 sales and again defended itself on Wednesday against allegations by billionaire investor William Ackman that its business is a fraud. Herbalife, embroiled in a dispute with Ackman who over the past 14 months has accused the company of being a pyramid scheme, discussed earnings projections and its response to a U.S. lawmaker’s inquiry into its business with analysts on a quarterly call. Sales are expected to grow between 7.5 percent and 9.5 percent this year, in part because of strong business in China. Investors said that may have added to pressure on Herbalife’s stock price, which closed down nearly 4 percent on Wednesday at $66.18 per share.

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