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Ackman still betting against Herbalife because of its business model

Published 07/14/2016, 12:50 PM
Updated 07/14/2016, 01:00 PM
© Reuters. An Herbalife logo is shown on a poster at a clinic in the Mission District in San Francisco
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NEW YORK (Reuters) - Bill Ackman said on Thursday that he's still betting against the shares of Herbalife Ltd (N:HLF) and that the company needs to make "material changes to its incentive structure."

Ackman, who made his comments on CNBC, said he also believes Herbalife and the government are "quite close" to a resolution about Herbalife's business practices.

© Reuters. An Herbalife logo is shown on a poster at a clinic in the Mission District in San Francisco

Ackman said a number of videos highlighting "false and misleading claims" made by Herbalife have been published on "Facts About Herbalife," a website maintained by Ackman's firm Pershing Square (NYSE:SQ) Capital Management.

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