You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

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.

Continue reading below

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.

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.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

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
Marketing image of