Herbalife pays Boies, Schiller & Flexner Chairman David Boies a “significant eight-figure retainer” for possible legal action against activist investor Bill Ackman, FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports. Gasparino went on to report that “Bill Ackman was barred from the Herbalife Ltd. (NYSE: HLF) meeting” today and that he is “in Burma scuba diving.”
On David Boies eight-figure retainer:
“Let’s get into some interesting headlines that the FOX Business Network has been able to uncover. Number one, David Boies significant eight-figure retainer – that’s the famed attorney. We reported it earlier in the week that he has been retained by Hearbalife for possible litigation against Ackman.”
On Bill Ackman being barred from Herbalife Ltd. (NYSE:HLF) meeting:
“Bill Ackman we should point out was barred from the Herbalife meeting… and guess where he is right now, in Burma scuba diving.”
On whether Ackman is bracing for possible legal action from Herbalife:
“We should point out the Ackman is telling people that he is bracing for possible legal action from Herbalife, that the company is weighing in what’s known as tortious interference that he is actually interfering with their business model.”
