Icahn Grabs Stake in Herbalife Ltd. (HLF)

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Herbalife shares have been extremely volatile over the past few months. Greenlight Capital’s David Einhorn, another prominent Wall Street figure, raised concerns about the company’s business in May. And shares dropped sharply following a lengthy PowerPoint presentation by Ackman in December, when he declared that Herbalife was a pyramid scheme.

The company has disputed Ackman’s statements, saying that he is attacking it solely to strengthen his short position. Executives called a meeting with analysts and investors in January to detail how its business operates and who its customers are. Ackman replied that Herbalife “distorted, mischaracterized, and outright ignored large portions” of his presentation.

The article Icahn Grabs Stake in Herbalife originally appeared on Fool.com and is written by Associated Press.

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