GNC is crashing (GNC) - Business - DailyTidings.com - Ashland, OR

Ashland Daily Tidings (Ashland, OR — Wayback)

2015-10-24

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3 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation  |  Register x Forgot Password | Need an Account? subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED   » NEWS NOW   Tears can be a way to Inner Peace       ...       Our View: Unruly 'travelers' warrant a community response       ...       Guest Opinion: Aging well: Get a navigator; create your community       ...       Tears can be a way to Inner Peace       ...       Our View: Unruly 'travelers' warrant a community response       ...       Guest Opinion: Aging well: Get a navigator; create your community       ...           GNC is crashing (GNC) Comment By Akin Oyedele DailyTidings.com By Akin Oyedele Posted Oct. 22, 2015 at 1:33 PM By Akin Oyedele Posted Oct. 22, 2015 at 1:33 PM »  Social News GNC got served a lawsuit on Thursday. Its stock sank by as much as 17% before being halted for news pending. The Oregon attorney general Ellen Rosenblum alleged in a court filing that the health-and-nutrition-products retailer violated the Oregon Unlawful Trade Practices Act, and sold dietary supplements with potentially dangerous ingredients. According to the court filing , GNC allegedly sold products that contained either picamilon or BMPEA, both of which do not legally qualify as dietary ingredients. The former is not used as a prescription drug in the United States although it passes in other countries, while BMPEA is banned by the World Anti-Doping Organisation, according to the filing. The attorney general alleged that GNC sold over 3,000 products with picamilon in Oregon between January 2013 and June 2015, and as many as 500 products with BMPEA in the same period. The filing alleged that GNC touted these ingredients as lawful dietary supplements. GNC shares have dropped 25% year-to-date. In a statement, the company said, "The claims made by the Oregon Attorney General are without merit and GNC intends to vigorously defend against these allegations. In response to FDA statements regarding the regulatory status of BMPEA and picamilon, GNC promptly took action to remove from sale all products containing those ingredients." Here's a chart showing the move lower in trading: NOW WATCH: Scientists have discovered the best way to take pills See Also: Most vitamins are useless, but here are the ones you should take Airbnb takes down controversial ads after offending San Francisco residents The mysterious startup that raised $500 million from Google has a cool website SEE ALSO: We asked an exercise scientist which supplements actually work By Akin Oyedele DailyTidings.com By Akin Oyedele Posted Oct. 22, 2015 at 1:33 PM » Comment or view comments   Reader Reaction »  STAY INFORMED   Email NewsLetter   Sign Up Today   Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with DailyTidings.com Facebook Twitter RSS Back to top Subscriber controls Contact us Letters to the editor Corrections Text Alerts Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed   Email newsletter   Sign Up Today   Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved.    Privacy Policy  |  Terms of Service  |  Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. DailyTidings.com | P.O. Box 1108, Medford, OR 97501