Bruised, Herbalife swings back at an accuser
New York
THIS Wall Street brawl began with a billion-dollar bet.
Then, William Ackman, the investor who landed the first blow with his bet against Herbalife, escalated the fight. He called the multibillion-dollar nutritional supplements company a "pyramid scheme", likening its practices to those of the mafia and the Nazis. Mr Ackman also lobbied federal authorities to bring Herbalife to its knees, an outcome that would reap a windfall for his hedge fund.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Possible class action lawsuit against Cordlife by customers could take at least 2 years
Chinese tariffs could leave cognac makers with too much brandy
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share