Herbalife Blasts Ackman Claims, Will Host Analyst Day
Nutrition company Herbalife said on Friday it would host an analyst day shortly after the New Year, in response to a battery of accusations leveled at the company by hedge fund guru Bill Ackman.
In a statement, Herbalife blasted what it called "distorted,outdated and inaccurate" claims made by Ackman about the company. This week, Ackman called the company as a "pyramid scheme", and in an interview with CNBC on Thursday said there was "a lot wrong" with their financial figures.
Herbalife has rejected allegations that its business model is fraudulent.
The Los Angeles, based company said the analyst day would take place sometime during the week of January 7, during which it promised to respond to Ackman's claims. On Thursday, Herbalife's stock plunged nearly 10 percent amid the controversy.
Ackman told CNBC he has been short the stock for seven months, and will donate any returns on his investment to charity.
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