Results 1 to 3 of 3

Thread: SEC Opens Investigation Into Herbalife

  1. #1
    JustTooMuchTime is offline Senior Scambuster
    Join Date
    Jul 2010
    Posts
    1,456
    Blog Entries
    128

    SEC Opens Investigation Into Herbalife

    S.E.C. Opens Investigation Into Herbalife - NYTimes.com

    I haven't found the Wall Street Journal article they reference.

  2. #2
    scratchycat's Avatar
    scratchycat is offline Elite Scambuster
    Join Date
    Feb 2011
    Posts
    3,477
    Blog Entries
    2

    Re: SEC Opens Investigation Into Herbalife

    Live Now
    Herbalife is holding an investor meeting. The Journal is live blogging here.

    .One thing is clear about the financial showdown shaping up between Wall Street gunslingers William Ackman and Daniel Loeb: Someone is probably going to lose a whole lot of money.

    Mr. Loeb's hedge fund disclosed Wednesday it owns an 8.2% stake now valued at $350 million in nutrition-supplements company Herbalife Ltd. HLF +3.68%Mr. Ackman's Pershing Square Capital Management LP has bet more than $1 billion against the company by shorting its stock.

    "This is shaping up to be potentially the bloodiest hedge-fund battle of all time," said Robert Chapman Jr., an activist investor who has also accumulated shares in Herbalife since Mr. Ackman laid out his bearish case against the company last month when he said Herbalife was a pyramid scheme.

    Herbalife has called Mr. Ackman's presentation on the company a "malicious attack on our business model based largely on outdated, distorted and inaccurate information…We are not an illegal pyramid scheme," the company said.
    Third Point's Dan Loeb Takes Stake in Herbalife - WSJ.com

    Getty ImagesHerbalife Ltd.'s HLF +4.33%big day has finally arrived.

    The nutritional-supplement maker is set to host an investor day this morning in New York, in which it will attempt to thwart a wave of criticism reignited by hedge-fund short sellers.

    Herbalife has made big moves ahead of today’s meeting. The company has hired a strategic adviser, it is working with law firm Boies, Schiller & Flexner and it has said it will speed up a previously announced $1 billion stock buyback plan.

    In Thursday’s meeting, the company is expected to combat hedge-fund manager William Ackman’s claims that Herbalife is a pyramid scheme. Ackman has bet more than $1 billion against Herbalife, a wager that sent the stock plummeting in late December. Herbalife has vehemently denied the pyramid-scheme allegations.

    The meeting is scheduled to begin at 9 a.m. Eastern Time.

    Here at MarketBeat HQ, we’ll be offering color commentary about the meeting and tracking the stock price as the day unfolds. Stay tuned.
    Live Blogging Herbalife's Investor Meeting - MarketBeat - WSJ
    Don't get ripped off!! Stay informed!

  3. #3
    scratchycat's Avatar
    scratchycat is offline Elite Scambuster
    Join Date
    Feb 2011
    Posts
    3,477
    Blog Entries
    2

    Re: SEC Opens Investigation Into Herbalife

    The SEC's Back and Forth With Herbalife

    Herbalife told me today that the “documents speak for themselves and the matter has been closed. There is no SEC investigation.”

    My take: It’s unknown whether regulators will dig deeper. Could be this will pass. But this much is clear: With the SEC asking the same questions as Einhorn, and even a few more, investors probably should be, too.
    Read Don's article here:


    ASDUpdates.com
    Don't get ripped off!! Stay informed!

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Disclaimer: Opinions expressed on this website are solely those of their respective authors.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42