Sat, Nov 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Update: Herbalife responds to hedge fund fight

Friday, January 11, 2013

Bailey McCann, Opalesque New York: As Opalesque reported yesterday, Herbalife, a supplement company supported by independent distributors which has recently been called a pyramid scheme by Pershing Square Capital founder Bill Ackman. Today, the company responded to his attacks. Herbalife held a meeting at the Four Seasons Hotel in Manhattan, with investors and analysts to discuss both Ackman's highly public short and Daniel Loeb's equally public investment.

The New York Times DealBook blog offered a live blog of the meeting this morning. According to that account, Herbalife COO, Richard Goudis, said that Ackman's presentation was intentionally misleading.

The meeting lasted 2.5 hours, and covered a range of topics. Firm principals covered the R&D behind Herbalife's products, actual prices per unit relative to the rest of the market for supplement products, and an academic presentation from Anne Coughlan, a professor at Northwestern’s Kellogg School of Management on multilevel marketing structures like Herbalife uses.

Shortly after the presentation, Ackman responded publicly saying that the company had distorted and "......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  4. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed

  5. Legal - Six years after AIG takeover, lawsuit reveals another potential buyer[more]

    From Institutional investor.com: When former Treasury secretary Henry (Hank) Paulson Jr. testified in a suit last month about the U.S. government takeover of American International Group, his words were — mostly — numbingly familiar. Explaining the “punitive” terms set for the September 2008 bailout