Fri, Oct 9, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

William Ackman accuses George Soros of alleged insider trading over Herbalife

Tuesday, August 06, 2013

William Ackman
Precy Dumlao, Opalesque Asia:

William Ackman, founder of $12bn activist hedge fund Pershing Square Capital, is taking his fight over Herbalife to a new level. On Monday, Ackman filed a regulatory complaint before the Securities and Exchange Commission (SEC) against billionaire investor George Soros for allegedly violating insider trading law when he purchased large positions in Herbalife, various media reported.

Last week, Soros took a large long position in Herbalife (HLF), that infuriated Ackman who lost money this year shorting the firm.

According to CNBC Ackman accused Soros of alerting other hedge funds about his big investment in the nutritional supplement maker.

Persing Square has had an uncovered $1bn (around 20 million shares) bet against Herbalife since last December, and Herbalife’s share price has gone up by 60% since, says CNBC. HLF's share price is around $66.67. Ackman initially labeled Herbalife a pyramid scheme in a three-hour long presentation. Herbalife denied the accusation.

CNBC also reported that Soros' long position in Herbalife counts as one of his top three holdings. Shares of Herbalife rose by more than 8% following the first report of Soros' stake.

Ackman allege......................

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. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko