IP Atty Takes On Wall Street Over Herbalife 'Pyramid Scheme'

Law360, New York (March 20, 2013, 8:16 PM EDT) -- Daniel Ravicher, the public-interest lawyer fighting patents on human genes and genetically modified soybeans, is taking his fight to Wall Street, accusing billionaire Carl Icahn and three investment banks of propping up a pyramid scheme, Herbalife Ltd.

Last week, Ravicher sued Icahn, Bank of America NA, JPMorgan Chase & Co. and Wells Fargo NA for their financial support of Herbalife, a vitamin distributor whose business model has come under fire from investors and regulators.

Ravicher, who owns shares of all three banks, filed a derivative suit...
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