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Herbalife Shares Dip Amid Negative New York Post Article

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The New York Post's Michelle Celarier published an article Wednesday morning that stated hedge fund mogul Bill Ackman still has a passion for taking down Herbalife (NYSE: HLF).

Following the release of the article, shares of Herbalife have dipped more than two percent.

The Post said Ackman will broadcast the findings from a nearly two-year long probe into Herbalife by Pershing Square on a webcast at 10:00 a.m. ET on July 22.

Ackman is a long-time critic of Herbalife and has accused the company of being nothing more than a pyramid scheme and has even called the Nutrition clubs, which are owned by Herbalife's independent distributors, a "pyramid within a pyramid," according to the Post.

In addition to the Pershing Square probe, the article noted Herbalife has been under investigation by several regulators.

Amid these and other accusations, Herbalife has been consistent in its denial of being a pyramid scheme.

Shares of Herbalife traded recently at $63.04, down 2.49 percent.

Posted-In: Bill Ackman New York PostNews Hedge Funds Rumors General

 

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