Bill Ackman’s Pershing Square Capital Management, L.P has fired the latest shot in the Herbalife Ltd. (NYSE:HLF) war. Yesterday, a short seller sued the company and the largest shareholder Carl Icahn. Today Bill Ackman released on www.factsaboutherbalife.com a 19 page presentation which compares Herbalife Ltd. to Fortune Hi-Tech Marketing. Fortune Hi-Tech Marketing. was declared a pyramid and prosecuted by the Federal Trade Commission and Attorneys General from Kentucky, North Carolina and Illinois.
Using the same analytical framework and legal standards that the FTC used to conclude that Fortune Hi-Tech Marketing is a pyramid scheme, Pershing Square believes that Herbalife clearly violates those same standards. The new report entitled “Side-by-Side: A Comparison of Fortune Hi-Tech Marketing and Herbalife” is based upon extensive court filings and related materials in the Fortune Hi-Tech case. The report lays out Pershing Square’s analysis point-by-point.
The full presentation can be found below:
Side-by-Side-A-Comparison-of-Fortune-Hi-Tech-Marketing-and-Herbalife-3.14.13
Side by Side a Comparison of Fortune Hi Tech Marketing and Herbalife 3.14.13
