Business

Herbalife defends itself against Ackman’s claims

Herbalife on Thursday sought to knock down accusations that it is a fraud, but it appeared investors were still trying to make up their minds.

Shares of the nutritional supplements company closed down 1.8 percent, ­after climbing as much as 7.6 percent in the morning.

Advertisement

In a 2½-hour presentation for investors and analysts, Herbalife executives responded to arguments made by hedge fund manager William A. Ackman in December, when he announced that his firm, Pershing Square Capital Management, was betting against Herbalife’s stock.

Ackman had called Herbalife a pyramid scheme, a claim that the executives vehemently­ denied.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

The Securities and Exchange Commission is also scrutinizing Herbalife. On Thursday, Herbalife company said it had been in contact with regulators but declined to comment further.

New York Times

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com