Jana’s Rosenstein Joins Ubben Saying Herbalife No Scheme
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Herbalife Ltd., the company that hedge-fund manager Bill Ackman has for 16 months called a pyramid scheme, is a legitimate enterprise, two activist investors said.
Barry Rosenstein, the founder of Jana Partners LLC, and Jeff Ubben, the chief executive officer of ValueAct Capital Partners LP, said today they don’t believe the seller of vitamins and weight-loss shakes is a pyramid scheme. The executives made the comments in response to a question at the Milken Institute Global Conference in Beverly Hills, California.