- Shares of Herbalife (HLF) open 1% higher.
- Likely helping the cause is Tim Ramey's note from Friday which suggests the company could receive $500M to $1B in damages presumably because KPMG effectively delayed a share buyback by leaving HLF "frozen without [an] audit opinion." (See: Previous coverage and full note)
- Here's ValueWalk's take: "Timothy Ramey, CFA just cannot get enough of those yummy shakes! [He] seems to find ways to create news even when there is seemingly little (or no) news on the topic."
- Other company news: HLF has hired former L.A. Mayor Antonio Villaraigosa as a consultant presumably (though not explicitly) to counter accusations (some by Latino civil rights groups) that it preys on the Latin American community which makes up around 60% of its U.S. distributor base. Brent Wilkes, national executive director of the League of United Latin American Citizens, is "disappointed" in Villaraigosa.
- Also: SA contributors talk bolivars and high growth potential
Herbalife strong after Ramey note, Villaraigosa hire
Sep 9 2013, 09:31 ET