Breaking News: Herbalife Attacks Bill Ackman With Full Power
According to a Herbalife press release:
Herbalife Today Posts First in a New Series of Videos on TheRealBillAckman.com
Shows How Bill Ackman's Hubris Drives Him To Make Unsound Decisions Costing His Investors Hundreds Of Millions Of Dollars
Global nutrition company Herbalife (NYSE: HLF) today announced the debut of its latest series of videos that showcase observations by the media and other thought leaders about the motives, failed investment strategies and questionable tactics of Bill Ackman. Observers have questioned his scruples and ethics, arguing that he has put his personal agenda ahead of the interests of his investors.
The premier video in the series, Frequently Wrong, Always in Denial posted today on TheRealBillAckman.com, illustrates Ackman's inability to admit his many investment mistakes. Quoted in Vanity Fair, one of Ackman's hedge fund contemporaries stated There is a saying in this business: ‘Often wrong, never in doubt.' Ackman personifies it.
As we approach the four year anniversary of Bill Ackman's unprecedented market manipulation campaign, a campaign that Bill Ackman admitted is costing him approximately $100 million annually in just carrying costs, it is important to point out that numerous respected journalists and industry experts have concluded his self-serving activism and hubris appear to be clouding his judgment, just as it has in the past, said Alan Hoffman, executive vice president, global corporate affairs, Herbalife.
Hoffman continued: For close to four years, Bill Ackman has launched a well-funded, aggressive market manipulation campaign, filled with false statements, to support his reckless $1 billion bet against Herbalife. In addition to the investment loss for his investors, Bill Ackman said his carrying costs were approximately $100 million annually, which when combined with the more than $75 million he has spent on lobbying and public relations, adds up to real money.
Herbalife is a global nutrition company that has been changing people's lives with great products since 1980. Our nutrition, weight-management, energy and fitness and personal care products are available exclusively to and through dedicated Herbalife independent members in more than 90 countries.
We are committed to fighting the worldwide problems of poor nutrition and obesity by offering high-quality products, one-on-one coaching with an Herbalife member and a community that inspires customers to live a healthy, active life.
The company has over 8,000 employees worldwide, and its shares are traded on the New York Stock Exchange (NYSE: HLF) with net sales of $4.5 billion in 2015. The Herbalife website contains a significant amount of financial and other information about the company at https://ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information in posted. To learn more, visit Herbalife.com or IAmHerbalife.com.
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