Herbalife Says Ackman's Campaign To Destroy Company Now Exposed

(RTTNews) - Herbalife (HLF) Monday commented on a March 10, New York Times report "After Big Bet, Hedge Fund Pulls the Levers of Power," by Michael S. Schmidt, Eric Lipton and Alexandra Stevenson.

The article detailed how Bill Ackman of Pershing Square employed a sophisticated and unprecedented campaign to exert pressure on lawmakers and regulators to investigate and destroy Herbalife, to protect the $1 billion bet he made against the company.

Herbalife said that for the past 15 months, Bill Ackman executed an unfounded, relentless and fraudulent public attack on Herbalife's business model, blasting the company to any media outlet or hedge fund audience willing to listen.

As The New York Times reports, Ackman has, out of desperation, shifted his focus from Wall Street to Washington and key states across the country.

''Ackman's unprecedented campaign to destroy Herbalife has now been exposed for what it is: a cynical, self-serving attempt to manipulate the market by buying his way into an investigation to cover his own reckless $1 billion dollar bet,'' the firm said in a statement.

There has never been merit to his accusations, Herbalife said. ''Now we know how he has been orchestrating the appearance of outrage and concern. There should be no question any longer about Ackman's motives, his techniques and his goals,'' the company added.

HLF closed up 2.2 percent on Monday at $66.16.