Shares of multilevel marketing (MLM) giant Herbalife Ltd. (HLF) continue to sink after the controversial company reduced its second-quarter guidance, citing issues arising from a recent Federal Trade Commission ruling.

Back in July, Herbalife was ordered to pay up $200 million and “fundamentally” restructure its business, as archnemesis and billionaire hedge fund manager William Ackman aggressively carried forward with his five-years-and-counting campaign to expose the nutritional supplement company as an illegal pyramid scheme.

New General Counsel Named

As the Los Angeles-based global company slashes its forecasts, estimating a year-over-year (YOY) sales decline of up to 6% in Q2, Ackman’s Pershing Square Capital Management, which publicly bet $1 billion on shorting HLF, finds itself among new company. Short interest in the stock rests at $1.8 billion, up 55% for the year and hovering below a historical high of $2 billion reach in July 2013, according to data from S3 Partners. (See also: Herbalife Lowers Sales Guidance for Q2.)

Amid the stock price shock, Herbalife has named a new acting general counsel in a wave of management changes, reports Reuters. Rick Werber has taken over for Mark Freidman, former executive VP, general counsel and secretary, who signed the FTC settlement in which Herbalife avoided being labeled a pyramid scheme but agreed to restructure its business model in the U.S. Friedman is no longer listed as a member of senior management on the firm’s website.

Other management changes include the movement of senior VP and managing director for North Asia, Frank Lamberti, to a new role at headquarters where he will work on implementing FTC-mandated changes. Both Werber and Lamberti had previously worked alongside Herbalife’s newly instated Chief Executive Officer (CEO) Richard Goudis at Rexall Sundown.

Happy Bears

As the nutritional supplement company struggles to meet targets in China, the firm’s documents show its head of Chinese operations, Jerry Li, is now no longer in his position. The head of Brazilian operations, Gioji Okuhara, is also not listed.

Investors should note that as bears remain delighted by the news, a handful of analysts such as those at Tigress Financial see a buying opportunity in the market’s reaction this week.

Trading down about 1.6% on Tuesday afternoon at $68.53, HLF reflects a 7.2% decline since Friday close. Shares have gained an approximate 11% in the recent 12-month period and 42.4% year-to-date (YTD). (See also: Is Herbalife Finally Feeling the Burn?)

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