Connect with us

Hi, what are you looking for?

Jewish Business News

Business

The Herbalife saga is ‘far from over’

24-year-old Canadian terror suspect pledged allegiance to ISIS; created martyrdom video to be shown following planned suicide attack in urban center.

Bill Ackman facebook

The Herbalife saga is “far from over, ” according to Ted Braun, the director of “Betting On Zero” — a documentary that chronicles hedge fund manager Bill Ackman’s billion-dollar wager against the multilevel marketing company.

“If you’re looking at the nature of his accusations — the FTC’s settlement — the court order as well as the complaint — is a resounding endorsement of everything Ackman has been saying over the last three years, ” Braun told Yahoo Finance.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

For more than three-and-a-half years, Ackman, the CEO of $12 billion hedge fund Pershing Square Capital, has been crusading against Herbalife (HLF). In late December 2012, he publicly declared that he was short $1 billion worth of Herbalife and that the stock would go to $0. His thesis centered around his belief that the company is operating as a “pyramid scheme” that targets poor people, particularly from minority populations. He said that regulators, specifically the FTC, would shut the company down.

In mid-July, Herbalife agreed to pay a $200 million settlement with the FTC and “fundamentally restructure” its business.

The FTC alleged in its complaint that most distributors make little to no money and a substantial percentage lose money. The “small minority” of distributors who receive “substantial income” do so through recruiting participants, not actual retail sales. The complaint said the company does “not offer a viable retail-based business opportunity.”

Read the full story at Finance Yahoo, by Julia La Roche

READ MORE: Herbalife

Bill Ackman facebook

Bill Ackman’s Pershing Square continues his almost four years crusade against Herbalife. The hedge funed released its 18th video on Thursday warning investors about the alleged the company is a More…

Bill Ackman facebook

Bill Ackman is about to hold a call defending his position in Valeant Pharmaceuticals. And ahead of this call, Herbalife, the nutritional supplement company Ackman is famously betting against and has called a pyramid More…

BILL ACKMAN screen shot

More than two years, Bill Ackman has been publicly campaigned against Herbalife, balming the company for being a multi-level marketer that sells weight loss shakes. Ackman believes Herbalife targets poor More…

Bill Ackman facebook

The feud between billionaire investor Bill Ackman and Herbalife is heating up. Ackman has now accused Herbalife executives of “lawyering up” in expectation of federal criminal charges. Bill Ackman has More…

Bill Ackman facebook

The FBI is investigating a consultant hired by hedge-fund manager Bill Ackman’s firm, looking to clarify they made false statements about the company’s business model to regulators, Bloomberg reported. Ackman More…

Herbalife + Soros

According to Bloomberg, George Soros just boosted his stake in Herbalife, but the news isn’t official quite yet.  Soros and Carl Icahn are in one corner and Pershing Square manager Bill Ackman is in the More…

Bill Ackman facebook

Bill Ackman is probably rejoicing or feeling his prophecy is going to be fulfilled as Barclay’s analyst Meredith Adler slashed earnings projections for the health shake maker by 30 percent. Activist investor More…

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.