Saturday, 31 January 2015
Last updated 14 hours ago
Feb 21 2013 | 4:31pm ET
Pershing Square Capital Management was barred from asking a question during Herbalife's fourth-quarter earnings call.
The hedge fund said analyst Shane Dinneen sought to ask a question several times during the call with analysts covering the nutritional supplements company, but was prevented from doing so.
"Our question for Herbalife is: Why have you not answered any of the questions that we submitted?" Pershing Square founder William Ackman wrote to The Wall Street Journal yesterday. Herbalife President "Des Walsh on national television committed to answer questions that we asked in the interest of transparency…. Wouldn't answering our questions help eliminate any confusion that you believe is in the marketplace?"
Herbalife would not comment on Ackman's claims.
In December, Ackman announced that he was shorting $1 billion in Herbalife shares and accused the company of being a pyramid scheme. Herbalife announced better-than-expected earnings for the quarter.
Ackman nemesis Carl Icahn also did not speak on the call, although Herbalife CEO acknowledged that the company had held "short discussions" with him. Icahn, who has a decade-long feud with Ackman, owns 13% of Herbalife.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…