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Ackman Says He’ll Take Herbalife Bet to End of the Earth

Activist investor Bill Ackman said he will take his bet against Herbalife Ltd. “to the end of the earth” even after losing as much as $500 million on the investment.

Ackman, whose Pershing Square Capital Management LP sold short at least 20 million Herbalife shares last year, was unapologetic about recently reducing the position. He stuck with claims that the company swindles unsophisticated consumers with false get-rich promises using overpriced products, such as vitamins, skin creams and meal-replacement shakes, that hide a pyramid scheme. He said he still is urging U.S. regulators, elected officials and community activists to help shut it down.