The weight loss company shares jumped in morning trading after Dan Loeb's hedge fund bought an 8% stake, or 8.9 mil shares, in the company. Then reports emerged that the SEC was looking into the company in response to noted short seller Bill Ackman calling Herbalife (HLF) a "pyramid scheme." Earlier in '12, David Einhorn of Greenlight Capital (GLRE) sent shares tumbling 20% after he grilled officials over changes to Herbalife's 10-K filings with the SEC. Shares rose 4.2% to 39.95.
- Investment & Company Information
- Bill Ackman
- Greenlight Capital