As Reported by WatchDog
WASHINGTON, D.C. — It seemed unlikely the showdown between billionaire investor Bill Ackman and a global nutrition products manufacturer could get much bigger.
But it just did, now likely pitting the FBI against congressional Democrats who intervened with the Federal Trade Commission on behalf of Ackman’s effort to destroy Los Angeles-based Herbalife Ltd.
Ackman has characterized his campaign against Herbalife as a social justice fight.
The Wall Street Journal reports the FBI is investigating whether representatives of Ackman’s Pershing Square Capital Management made false claims to federal regulators and others in order to benefit from a decline in Herbalife’s stock price.
As Watchdog.org has reported, Ackman shorted Herbalife stock, betting $1 billion the stock would tank. Most such stock predictions are based on a hard-headed analysis that a company’s business model will implode on its own. Not Ackman’s. He launched an expensive media blitz to announce his bid to destroy Herbalife, claiming the company’s multi-level marketing strategy unfairly targets Latinos by offering them a home-based business that can’t make money.
FULL STORY HERE:
FBI investigating Democrats alliance with billionaire investor