Shows How Bill Ackman's Hubris Drives Him To Make Unsound Decisions
Costing His Investors Hundreds Of Millions Of Dollars
LOS ANGELES--(BUSINESS WIRE)--
Global nutrition company Herbalife (NYSE: HLF) today announced the debut
of its latest series of videos that showcase observations by the media
and other thought leaders about the motives, failed investment
strategies and questionable tactics of Bill Ackman. Observers have
questioned his scruples and ethics, arguing that he has put his personal
agenda ahead of the interests of his investors.
The premier video in the series, "Frequently
Wrong, Always in Denial" posted today on TheRealBillAckman.com,
illustrates Ackman's inability to admit his many investment mistakes.
Quoted in Vanity Fair, one of Ackman's hedge fund contemporaries
stated "There is a saying in this business: ‘Often wrong, never in
doubt.' Ackman personifies it."
"As we approach the four year anniversary of Bill Ackman's unprecedented
market manipulation campaign, a campaign that Bill Ackman admitted is
costing him approximately $100 million annually in just carrying costs,
it is important to point out that numerous respected journalists and
industry experts have concluded his self-serving activism and hubris
appear to be clouding his judgment, just as it has in the past," said
Alan Hoffman, executive vice president, global corporate affairs,
Hoffman continued: "For close to four years, Bill Ackman has launched a
well-funded, aggressive market manipulation campaign, filled with false
statements, to support his reckless $1 billion bet against Herbalife. In
addition to the investment loss for his investors, Bill Ackman said his
carrying costs were approximately $100 million annually, which when
combined with the more than $75 million he has spent on lobbying and
public relations, adds up to real money."
to watch the video and learn more about Bill Ackman's utterly
unimpressive record and questionable tactics.
Herbalife is a global nutrition company that has been changing people's
lives with great products since 1980. Our nutrition, weight-management,
energy and fitness and personal care products are available
exclusively to and through dedicated Herbalife independent members in
more than 90 countries. We are committed to fighting the worldwide
problems of poor nutrition and obesity by offering high-quality
products, one-on-one coaching with an Herbalife member and a community
that inspires customers to live a healthy, active life.
The company has over 8,000 employees worldwide, and its shares are
traded on the New York Stock Exchange (NYSE: HLF) with net sales of $4.5
billion in 2015. The Herbalife website contains a significant amount of
financial and other information about the company at http://ir.Herbalife.com.
The company encourages investors to visit its website from time to time,
as information is updated and new information in posted. To learn more,
View source version on businesswire.com: http://www.businesswire.com/news/home/20160829005711/en/
Megan Jordan/Jennifer Butler
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