Tell the SEC to investigate Icahn and set the record straight on Herbalife

SEC Chair Mary Jo White

Did claims made by Carl Icahn concerning Herbalife’s recent settlement with the FTC contribute to the rapid rise in the company’s share price?

On July 15, 2016, the FTC reached a settlement with Herbalife. That same morning, Carl Icahn, who owns 18% of the company, issued a letter to shareholders claiming the FTC had “concluded that Herbalife was not a pyramid scheme.”  

But during a press conference a few hours later, FTC Chair Edith Ramirez characterized Icahn’s statement as “inaccurate." (VIDEO from FTC press conference.)

“...they [Herbalife] were not determined not to be a pyramid scheme.”
After initially surging by 18%, Herbalife’s share price began to decline following the Ramirez press conference - before closing up 10% for the day. Icahn’s holdings had increased by more than $100 million in a single day of trading.

Was Icahn's letter to shareholders, or any other of his public statements regarding the FTC settlement, stock manipulation? From the SEC's website:

Add your name to urge SEC Chair Mary Jo White to investigate this matter, and determine whether Carl Icahn violated the law.

To: SEC Chair Mary Jo White
From: [Your Name]

We, the undersigned, urge the SEC to investigate whether claims made by Carl Icahn concerning Herbalife’s recent settlement with the FTC were improper, and whether or to what extent any such claims may have contributed to the rapid rise in Herbalife’s share price in the hours following the public release of the FTC settlement.