Bruised, Herbalife Swings Back at an Accuser
By
William A. Ackman has lobbied federal authorities to bring Herbalife to its knees, an outcome that would reap a windfall for his hedge fund. CreditBrendan Mcdermid/Reuters
This Wall Street brawl began with a billion-dollar bet.
Then William A. 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.
That effort, it turns out, was only the first round. Now Herbalife, with deep pockets and well-connected political operatives and former prosecutors, is looking to turn the tables with its own no-holds-barred appeal to the government…
Bruised, Herbalife Swings Back at an Accuser
