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Johnson and Herbalife Fight Back

BY DSN Staff | January 11, 2013 | read / Daily News

Herbalife

In response to the recent attack on Herbalife by Bill Ackman of Pershing Square Capital Management, Herbalife held an investor’s conference on Jan. 10 to address the charges. Company President Des Walsh called Ackman’s claims a “gross distortion of the reality.”

Another fund manager, Daniel Loeb of Third Point, disclosed his fund has taken an 8.2 percent stake in Herbalife, telling Bloomberg that Ackman “overestimates his ability to reroute rivers.” CNBC is reporting that yet another activist “celebrity” investor Carl Icahn may also have taken a long position in Herbalife.

Ackman, however, is still throwing punches at Herbalife, saying their rebuttal “distorted and mischaracterized” the Pershing presentation on the Herbalife business model. Johnson says he and the other Herbalife executives welcome questions as they stand by the 32-year-old company and business practices that have produced a loyal customer base, solid profits and an excellent free cash flow.

Posted in Daily News
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