Icahn Gains Two Herbalife Directors In Feud With Ackman

Law360, New York (February 28, 2013, 6:16 PM EST) -- Carl Icahn has scored two directors on the board of nutrition company Herbalife Ltd. and the option to increase his firm's stake in Herbalife to 25 percent, the latest move in Icahn's public feud with hedge fund CEO William Ackman over allegations of an Herbalife pyramid scheme.

Herbalife announced the proposed changes Thursday, two weeks after Icahn revealed that he has bought up a 13.6 percent stake the California-based distributor. The new agreement announced by Herbalife gives Icahn Enterprises Holdings LP the option of nearly doubling...
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