Then to make things even more interesting, both Daniel Loeb and now Carl Icahn have taken the long side of Herbalife. Icahn and Ackman have long had a real hate for each other, so this story is going to be one for the ages.
Today Herbalife's president appeared on CNBC to discuss Ackman's accusations of Herbalife being a pyramid scheme. Here are some of his main comments:
- Ackman's claims are a great distortion of reality.
- The majority of Herbalife's distributors join because they want a discount on a product that they use and enjoy themselves.
- He has never spoken to a distributor who is not making money who has signed up specifically for the business opportunity and not just for the product discount.