In his sixth add of Herbalife Ltd. (NYSE:HLF
) since his buy on Feb. 4, 2013, Guru Carl Icahn
again increased his stake by 2.01% on March 8, 2013, for a total current shares of 16,355,131. Icahn is listed as 10% owner of Herbalife Ltd. The current price of HLF is $40.38, with a change from average down 3%. Founded in 1980, Herbalife Ltd. is a leading provider of weight management and nutritional supplements operating in 72 countries through a network of 2 million independent distributors.
In the first quarter of 2013, Herbalife (NYSE:HLF
) got more than its fair share of press with controversial statements made by Gurus Bill Ackman
of Pershing Square Capital Management LP and Carl Icahn
of Icahn Capital Management LP, and others arguing about the Herbalife business model. Last week New York investor and attorney Daniel Ravicher filed paperwork in Manhattan Federal Court to force three banks to pull back $1.2 billion of financing for Herbalife. According to the New York Post, Ravicher filed another separate lawsuit seeking to force Icahn to pay damages and divest his stake in Herbalife. Continue Reading »