Thursday, 28 July 2016
Last updated 56 min ago
Mar 27 2014 | 11:56am ET
Nutritional supplements company Herbalife has countered Pershing Square Capital Management’s web site about it with one of its own.
Pershing Square has a $1 billion short bet against Herbalife, which it claims is a pyramid scheme. Last month, the hedge fund’s founder, William Ackman, announced a new website, herbalifepyramidscheme.com, profiling Herbalife’s top distributors. Pershing Square also runs another website, factsaboutherbalife.com, which debuted in December 2012, when Ackman announced the hedge fund’s short.
This week, Herbalife parried, launching iamherbalife.com. The new website features dozens of testimonials from users of its products, and calls Ackman’s allegations misleading. The company, which faces a Federal Trade Commission probe, insists on its site that it is a “legitimate multi-level marketing company.”