Sunday, January 6, 2013

Herbalife CEO plots Ackman hedge revenge

Michael Johnson, after seeing shares in his 32-year-old weight management and nutritional supplement distribution company tumble nearly 40 percent after Ackman publicly labeled it a pyramid scheme, is planning to return fire this Thursday..  In an anticipated investor meeting in New York, Johnson, sources told The NY Post, is likely to wheel out a former Federal Trade Commission regulator — along with a point-by-point rebuttal of Ackman’s plan….

….The December battle between Ackman and Herbalife — which resulted in $1.8 billion of value being wiped out — captivated Wall Street as Ackman, one of the best-known hedge-fund managers, hit CNBC, Bloomberg TV and other media outlets to publicize his theory. Herbalife is “the best-managed pyramid scheme in the history of the world,” Ackman crowed…

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