Herbalife Soars As Belgian Court Confirms Not A Ponzi Scheme

Unfortunately for Bill Ackman, another leg of the “short Herbalife to the grave” thesis just broke when a Belgian Appeal Court hearing overturned its previous findings:

  • *HERBALIFE ‘WELCOMES’ JUDGEMENT BY BELGIAN APPEAL COURT 
  • *HLF CITES CLAIMS THAT HLF WAS OPERATING A PYRAMID SCHEME
  • *HERBALIFE SAYS COURT STATES ITS SALES MODEL IN FULL COMPLIANCE

The stock is up 5% on the news, breaking to a new record high above $75.

 

 

Herbalife PR Statement:

Global nutrition company Herbalife (NYSE: HLF), welcomes the judgment by a Belgian Appeal Court that states the company`s sales model is in full compliance with Belgian law.

This judgment overturns a previous ruling by the lower court, in response to claims brought by Belgian consumer organization Test-Aankoop, that Herbalife was operating a pyramid scheme.

Herbalife always believed that the first judgment contained factual errors and was based on misinterpretations of its direct-selling sales method, and was confident that the original judgment would be overturned on appeal.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/j_ZCsQLBlAQ/story01.htm Tyler Durden

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