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Thursday, Jan 10
Pershing Square's Bill Ackman responds to Herbalife's (HLF -3%) Analyst Day presentation, saying...
Pershing Square's Bill Ackman responds to Herbalife's (HLF -3%) Analyst Day presentation, saying that "Herbalife promised to provide a detailed refutation of each of the facts... Instead, the company distorted, mischaracterized, and outright ignored large portions of our presentation." Ackman notes that HLF explicitly ignored most of his key accusations, such as overstatements and inaccuracies in the company's earnings statement for distributors, which among other deceptions, excludes the 93% of distributors that have zero gross earnings.