WHEN: TODAY, FRIDAY, JANUARY 23RD
WHERE: CNBC'S "SQUAWK ALLEY"
Following is the unofficial transcript of breaking news from CNBC's Scott Wapner. All references must be sourced to CNBC.
SCOTT WAPNER: THANKS CARL. WANT YOU TO PULL UP SHARES OF THAT COMPANY BECAUSE THERE HAS BEEN SOME SPECULATION OVER THE LAST COUPLE OF WEEKS ABOUT THE POSITION OF ONE OF HERBALIFE'S LARGEST SHAREHOLDERS. BILL STIRITZ IS THE CHAIRMAN & CEO OF POST AND HE HAS AN 8.2% POSITION IN HERBALIFE. WHAT I CAN TO YOU IS ACCORDING TO MY SOURCES THAT BILL STIRITZ HAS NOT SOLD A SINGLE SHARE THAT HE HAS IN HERBALIFE IN FACT AS THE STOCK HAS PULLED BACK IN RECENT WEEKS HE ACTUALLY BOUGHT MORE BUT NOT ENOUGH TO CAUSE A FILING IN THE STOCK. SOURCES ALSO TELL ME THAT MR STIRITZ'S CONFIDENCE IN HERBALIFE'S BUSINESS MODEL SAID TO BE GREAT THAN IT EVER HAS BEEN. BUT AGAIN THE HEADLINE HERE REALLY IS TWO-FOLD NOT ONLY HAS BILL STIRITZ NOT SOLD ANY OF HIS HERBALIFE STAKE HE'S ACTUALLY USED THE PULLBACK TO BUY MORE STOCK NOT ENOUGH TO CAUSE AN SEC FILING OF COURSE BUT NONE THE LESS STILL BUYING MORE EVIDENCE OF HIS BELIEF AND HIS CONFIDENCE WHICH I'M TOLD IS SAID TO BE GREATER THAN EVER IN THAT COMPANY'S BUSINESS MODEL. YOU CAN SEE HERBALIFE SHARES WHICH WERE DOWN ABOUT 2% JUST A SHORT TIME AGO ARE NOW UP ALMOST 2% AND THE VOLUME IS CLEARLY PICKING UP BUT IT IS AN INTERESTING BIT OF NEWS ABOUT ONE OF THE BIGGEST SHAREHOLDERS IN THIS COMPANY.
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