Hedge fund manager William Ackman, who placed a $1 billion bet against Herbalife, said that he had promised a former Herbalife executive who became a whistleblower against the company up to $3.6 million, ABC News reported on Tuesday. ABC said on its website that Ackman's payments would come if Giovanni Bohorquez, the former executive, lost the job he took after leaving Herbalife. Ackman's firm, Pershing Square Capital Management, so far has paid Bohorquez $80,000 already. ABC said Ackman agreed to the deal after Bohorquez balked at blowing the whistle on Herbalife for fear it could make it difficult for him to find work afterwards.
Hedge fund manager William Ackman secretly promised a former Herbalife executive-turned-whistleblower as much as $3.6 million in case he lost the job he took after leaving Herbalife, ABC News reported on Tuesday on its website. Ackman, the manager of Pershing Square Capital Management who has heavily shorted Herbalife's stock in the hopes that share prices would fall, told ABC News that he had already paid Giovanni Bohorquez, the former executive, $80,000 because "it was the right thing to do." Bohorquez worked at Herbalife, a multi-level marketing company, but left in 2011 and began work at a chain of laundromats. He lost that job because of the stress of being a whistleblower, ABC said.
Herbalife Recognized as a Corporate Role Model in Latino Magazine’s Second Annual “Latino 100” Spring 2014 IssueBusiness Wire 04/22 12:35 ET
Herbalife , a leading global nutrition company, is proud to announce its recognition as one of the leading companies recognized in LATINO Magazine’s “LATINO 100” Spring 2014 issue, an annual listing that spotlights companies providing the most viable business opportunities for U.S.
The deck seems stacked against this pharmaceutical powerhouse.
The hedge fund manager and Valeant Pharmaceuticals have teamed up to go after Allergan.