Loeb Splits With Ackman On Herbalife As SEC Opens Probe

Jan 10 2013 | 2:08pm ET

Less than a month after Pershing Square Capital Management's William Ackman called the nutritional supplements company a "pyramid scheme," Third Point's Dan Loeb said he had bought more than 8% of Herbalife, betting that its shares could rise as much as 45%. And just as Ackman's pronouncement sent Herbalife shares tumbling, Loeb's sent them higher.


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