Richard Perry Dumps Herbalife

Feb 17 2015 | 8:58am ET

The fifth-largest shareholder of Herbalife sold his stake in the fourth quarter. Richard Perry, head of Perry Capital, liquidated 5.575 million shares, according to a filing with the Securities and Exchange Commission.

 Herbalife has been a source of profits and pain for a number of hedge funds and private equity firms over the last year.

Pershing Square Capital Management manager Bill Ackman has waged a public campaign against the health marketing firm, and wagered a large short position. Ackman has accused the firm of operating a Ponzi scheme.

Meanwhile, Carl Icahn, William Stiritz, George Soros and several other money managers had taken long positions in the company. The stock declined by 50% last year. 

Soros significantly reduced his position after Paul Sohn, the portfolio manager who led the investment in Herbalife, left in November.

The stock has continued to decline in 2015, with shares down 13% since January 1.


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