GO
Loading...

Ackman goes to SEC in latest chapter of Herbalife saga

Monday, 5 Aug 2013 | 7:22 AM ET
Bill Ackman
David Grogan | CNBC
Bill Ackman

Bill Ackman is taking his campaign against Herbalife to a new level, with sources telling CNBC that the hedge fund manager has filed a complaint with regulators against George Soros, who last week made a big investment in the nutritional supplement maker.

On Wednesday, news surfaced that Soros was taking a large long position in Herbalife. Ackman is now petitioning the Securities and Exchange Commission to address concerns that the legendary investor broke insider-trading rules by alerting other hedge funds about the big investment, sources say.

Bitter herb for Ackman
Making money with Icahn and Soros. Last week, Mike made a bullish bet on Herbalife. Can it keep growing? With CNBC's Melissa Lee and the Options Action traders. This week,

Since last December, Ackman's Persing Square Capital has maintained an uncovered $1 billion bet against Herbalife, a position that has become increasingly squeezed as the stock has surged by around 60 percent. It has also embroiled Ackman in a bitter public war of words with billionaire investor Carl Icahn, who is long the stock.

—Reporting by CNBC's Scott Wapner, writing by Javier E. David.

  Price   Change %Change
HLF
---

Featured

Contact Hedge Funds

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

NetNet