Thursday, 30 July 2015
Last updated 3 hours ago
Apr 29 2014 | 12:44pm ET
Herbalife is taking steps to rain on Pershing Square Capital Management’s red-carpet parade this week.
The nutritional supplements company, which the William Ackman-led hedge fund says is a pyramid scheme, announced yesterday that it would suspend its annual dividend and use the money to aggressively buy back stock. The move comes days before Ackman plans to premiere a documentary about the company, featuring former distributors who allege they were defrauded by Los Angeles-based Herbalife.
Herbalife also said its adjusted net income hit a record in the first quarter. But it said it took a major loss due to Venezuela’s currency devaluation, cutting its first-quarter profit by 37%.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…