Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at

News Archive

Read More Industry News >

Herbalife Hires Adviser After Ackman Shorts Company

Dec 26, 2012
Jing Chen

Weight management product company Herbalife has hired a strategic adviser after hedge fund manager Bill Ackman revealed last week that he was shorting the company.

Bloomberg reported that Herbalife has enlisted Moelis & Co. to help the company re-position to the top after its shares declined 36% since Ackman, the founder and CEO of New York-based Pershing Square Capital Management, said he was shorting the stock on December 21.

eVestment reported last week that Ackman called Herblife a “pyramid scheme” and criticized the company for inflating the suggested retail price of its products and overstating its retail sales in public filings.

Michael Johnson, the CEO of Herbalife, fought back claiming that Ackman’s charge about Herbalife being a pyramid scheme is “bogus.” Herbalife is set to hold a meeting on January 10 “to respond in detail to the distorted, outdated and inaccurate information" from Pershing Square.

Pershing Square manages approximately $11 billion in assets.

Read More Industry News >

Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now

Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More