Herbalife Gains From Fund Stake Erased By SEC Inquiry
Herbalife (HLF) shares ricocheted up, down and then up again Wednesday as a hedge fund manager defended it. Then reports emerged that the SEC was looking into the company. It jumped 7% in early morning trading after Dan Loeb's hedge fund disclosed an 8.9 million share purchase of the weight loss supplement company. Loeb's hedge fund, Third Point, now owns an 8.2% stake in Herbalife. In mid-afternoon, reports emerged that enforcement officials in
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