Herbalife Is Spending Less On Preventing 'Attacks'
The news continued an overall trend for the company. Looking back, the company recorded an expense of $7.125 million for the quarter ended June 30, 2013 related to defending itself against such “attacks" against its business model.
That expense line declined to $2.9 million for the quarter ended March 31, 2015.
Source: Company reports.
The company’s strong earnings report also conflicted with recent comments from its long-standing critic, Pershing Square Capital founder Bill Ackman.
Ackman recently stated, "I think what you will see is continued deterioration of fundamental performance of the business," and that “the government may do nothing, but I think the business goes away anyway.”
Herbalife traded at $46.05 in Wednesday's pre-market session, up 14.8 percent.
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