(Reuters) - The hedge fund firm run by activist investor William Ackman said on Friday a federal judge's recent dismissal of a shareholder lawsuit against Herbalife Ltd did not "exonerate or bless" its business practices.
Pershing Square Capital Management LP, which in December 2012 revealed a $1 billion bet against the weight loss and nutritional products company, said recent news reports it was behind the lawsuit, or had sued Herbalife itself, were false.
It also said that, despite what it called Herbalife's "misleading public suggestions," U.S. District Judge Dale Fischer in Los Angeles did not address whether Herbalife was an illegal pyramid scheme, as Ackman has contended.
Herbalife shares have risen 22.3 percent in the last three days after reports of Fischer's decision began to surface.
They closed on Friday up $4.16, or 11 percent, at $42.10, in part on market speculation that Ackman had begun to cover his short position. Ackman has said many times he expects Herbalife's share price to fall to zero.
Fischer had written that shareholders led by two pension funds did not show questions raised about Herbalife by Ackman and various federal and state investigators showed that the company fraudulently inflated its stock price.
Herbalife said on Wednesday it welcomed the dismissal, and added: "We are confident in the strong fundamentals of our business model and remain committed to helping people and communities improve their nutrition."
In its statement on Friday, Pershing Square said it believed the result of the various probes "will be that Herbalife will be shut down or will be required to modify its deceptive practices so substantially that the company will not be able to survive."
BYD also beat Tesla. It also has effectively blocked the China market to Tesla.
Easy to explain, ... they'll make it up in volume ... and they'll build a gigafactory to get the price down and alleviate the battery shortage ... they'll make sure no one takes vacations ........ they'll look into weather modification to lessen snowfall .... and they'll build more cars as soon as the factory employees are well rested.
Youre probably rethinking that short position now?
Dont forget BYD is also outselling Tesla, but I'm sure there's a reason that wont count.
Dont care if they're rubber band powered and made from cardboard, they're still outselling Tesla.
EV's AT CHICAGO
The 2015 edition of the Chicago Auto Show not only offers visitors an opportunity to both see and, in some cases, drive the latest in vehicle hardware, it also features vehicles with the same source of power today as 110 years ago -- gas engines and batteries.
Today’s battery powered vehicles come in a couple of flavors. Pure electics are cars that run on battery power only. There are also extended-range electrics. These vehicles run on electric power until the battery charge runs out and then a gasoline engine kicks in to extend driving range.
The two most prominent electrics on the floor are the Chevrolet Volt and Nissan Leaf. But there are many others -- like the band BMW i3 and Ford Fusion Energi-- each designed to meet a different need.
You can find the following concept cars on display at the 2015 Chicago Auto Show or at the Vehicles on Display section of the auto show Web site.
BMW I3 CADILLAC ELR CHEVROLET VOLT FORD FUSION KIA SOUL EV MITSUBISHI I-MIEV
NISSAN LEAF PORSCHE PANAMERA E-HYBRID SMART FORTWO VOLKSWAGEN EGOLF ELECTRIC
TESLA WAS MISSING, BUT THESE MANUFACTURERS DISPLAYED