Herbalife Skips a Knockout Blow
After weeks of anticipation Herbalife (NYSE:HLF) defended itself against claims made by hedge funder Bill Ackman that the direct seller of nutritional supplements is a pyramid scheme. Herbalife fired back with data that put the figures and analysis behind Ackman's billion-dollar-plus short trade in question. Still while Herbalife presented a strong defense of its business and in particular Ackman's allegation that a majority of the company's sales don't involve bona fide retail sales the company's presentation isn't likely to be a knockout blow. In the background on Wednesday an a 8.24% stake disclosed by Dan Loeb-run Third Point puts ...
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