Thu, May 5, 2016
A A A
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

amb
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n