Herbalife and Ackman Fight Intensifying This Week

Companies and Brands

Published: July 21, 2014 1:20 pm

Herbalife Ltd. (NYSE: HLF) remains one of the most controversial stocks on Wall Street and Main Street. That controversy is set to come to yet another head on Tuesday, July 22, 2014.

Activist investor, and short selling activist to boot, Bill Ackman of Pershing Square is set to release what he called new evidence of fraud on a phone-in interview on CNBC on Monday. Ackman is issuing a new presentation on Tuesday against Herbalife, and he said that he will stake his entire reputation on the matter.

Ackman even said that China was a side-show compared to what is happening at Herbalife here in the United States.

Herbalife disagrees. The company has issued two different releases in recent days:

Herbalife CEO Michael Johnson and CFO John DeSimone will be speaking on CNBC around 9:00 a.m. Eastern Time on Tuesday ahead of Bill Ackman’s presentation. Anyhow, the fight continues on Monday, and will go on Tuesday, and almost certainly will go on for a much longer time.

Herbalife shares were trading slightly above $59 prior to Ackman’s CNBC appearance, after closing at $60.84 on Friday. Shares were down over 6% and had dropped under $57 shortly after Ackman’s bash against the company.

ALSO READ: Activist Investors Could Face Trouble Influencing EMC and VMware Efforts

Get Ready To Retire ^(Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future