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Los Angeles-based Herbalife recently announced the results of a Neilsen Co. survey funded by the global nutrition company. The survey of more than 10,000 consumers found that about 8 million U.S. customers purchased Herbalife products over a recent three-month period.
Earlier this month, Herbalife stock made a full recovery despite the unrelenting campaign that hedge fund investor Bill Ackman launched against the company in December.
Herbalife continues to gain momentum following its record first quarter earnings.
Herbalife has spent much of 2013 defending its business model against hedge fund manager Bill Ackman’s pyramid accusations.
Today billionare investor Carl Icahn revealed his investment position in Herbalife. In what has become a clash of the Wall Street titans, Icahn paid $214 million for 14 million Herbalife shares, amounting to a 13 percent stake in the company.
Herbalife is providing further disclosure on its U.S. distributor earnings to offset accusations of illegitimate business practices.
Shareholders in Herbalife and NuSkin experienced a roller-coaster day on Monday as a result of the battle Bill Ackman, Founder and CEO of hedge fund Pershing Square Capital Management, continues to fight against Herbalife.
In mid-December, just after we went to press with the January 2013 issue, our industry and its executives were assailed by another short seller attacking a prominent direct selling company with accusations reminiscent of an old movie that has seen its day of reruns.
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.”
Last summer and fall proved to be a battleground for a few Wall Street analysts and their direct selling company targets, but Bill Ackman’s Christmastime attack on Herbalife seems to be an all-out war.
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