Herbalife CEO says Ackman 'pyramid scheme' claim is 'bogus' Says company is a legitimate business with "millions of customers" and real business model. Says Ackman short is about his own business model, not about Herbalife's. Says asked Bill Ackman if company can take part in Ackman's planned presentation tomorrow and was denied. Says company wants SEC to "take action" over what Johnson calls "market manipulation." CEO Michael Johnson speaking on CNBC.
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Herbalife near settlement with former distributors, NY Post says Herbalife is close to reaching a settlement with five former distributors that allege the nutrition company is a pyramid scheme and has victimized thousands, says the NY Post. Reference Link