Tags: ackman | herbalife | stock | probe

Ackman Says Not Contacted by Federal Agencies on Herbalife

Friday, 13 Mar 2015 08:58 AM

Billionaire investor William Ackman said he had not been contacted by federal agencies investigating possible manipulation of Herbalife Inc.'s stock.

Federal prosecutors and the Federal Bureau of Investigation have interviewed people hired by Ackman for an investigation on whether they made false statements about Herbalife's business model to regulators, The Wall Street Journal reported.

Ackman confirmed that some people hired by Global Strategy Group, a consultancy working for his Pershing Square Capital Management LP, had received subpoenas from the Department of Justice.

The investor said in a CNBC interview on Friday that he was not worried about the investigation leading back to him.

Ackman also said he could not be certain if people working for Global Strategy Group had not made false statements.

Ackman has been betting against Herbalife shares since 2012, claiming the company is a pyramid scheme - where new investors unwittingly fund the profits of older investors. Regulators began investigating the company early last year.

© 2017 Thomson/Reuters. All rights reserved.

 
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Billionaire investor William Ackman said he had not been contacted by federal agencies investigating possible manipulation of Herbalife Inc.'s stock.
ackman, herbalife, stock, probe
158
2015-58-13
Friday, 13 Mar 2015 08:58 AM
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