Herbalife Defends Against Ackman's ‘Pyramid Scheme’ Attack

Law360, New York (January 10, 2013, 10:25 PM EST) -- Herbalife Ltd. took to the stage Thursday to weigh in on a growing firestorm fed by sparring hedge funds, some of which have bet big on the global nutrition company while activist investor Bill Ackman has publicly denounced Herbalife as a pyramid scheme.

Cayman Islands-based Herbalife trotted out a string of executives and scientists at the Four Seasons Hotel in Manhattan who passionately defended Herbalife’s business model and products, which include meal-replacement shakes and other fitness snacks sold through independent distributors who operate in 85 countries...
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