Herbalife’s CEO Michael Johnson said the company is at war with Bill Ackman.
In a video interview with LA Magazine, Johnson said that Ackman’s’ assertions that the company is a pyramid scheme and that its stock will fall to $US0 are, for Herbalife, “a war.”
“For any of us [at Herbalife] to think otherwise would be a mistake, because [Ackman] has spent $US50 million trying to take us down… Name another company that this has happened to before, and the tactics that have been used against us,” Johnson told LA Mag’s Giselle Fernandez.
Johnson also said that Ackman’s campaign against Herbalife is, “uninformed, and to us unintelligible,” and he is confident the FTC’s investigation into the company will result in the Commission finding that Herbalife is a “pretty good company.”
Johnson said that Carl Icahn, who is Herbalife’s largest shareholder and has five seats on its board, is a wise investor and that his involvement in the company was a good move for him, and a good move for Herbalife.
When asked what current shareholders can do, Johnson said they should remain focused on the fact that the company is still profitable, and ignore the “knuckleheads in bathrobes” who write about the company.
In afternoon trade on Wednesday, Herbalife shares were down about 5%.
You can watch the full interview below.
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