One movie premier Los Angeles-based Herbalife CEO Michael Johnson will not be attending is Bill Ackman’s producer debut in the “documentary” about the nutrition company.
Documentary on Herbalife is really “advertisement”
Getting the jump on Ackman’s Friday premier of what Herbalife Ltd. (NYSE:HLF) is calling an “advertisement” designed to bring down a 34-year old company, Herbalife issued a statement deriding Ackman’s efforts.
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“Ackman has spent more than $20 million to date on his campaign against Herbalife,” the statement said. “Herbalife views the release of this advertisement posing as a “documentary” as nothing more than propaganda. The company believes this is yet another tactic in Mr. Ackman’s calculated, coordinated and well-funded effort to destroy a 34-year old company and support his $1 billion bet against Herbalife.”
The release noted that Herbalife Ltd. (NYSE:HLF) had noted been contacted by Connie Chung, the film’s on-air talent, or Pershing Square prior to the hedge fund’s release of the film. “Herbalife believes Mr. Ackman is not interested in the truth or any semblance of a fair and impartial hearing of the facts. As such, Herbalife has no intention of participating in Friday’s media event.”
The release then proceeded to talk its cause, saying they have no minimum purchase requirements, a money back guarantee and studies that show its members are satisfied.
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Ackman’s