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What a start to 2013! Ackman goes public in grand fashion with a 9 million-page short presentation on Herbalife (HLF) promising to dedicate his profits to charity.
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.
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