Ackman Says His Employees Haven’t Been Questioned in U.S. ProbeDuane D. Stanford
Billionaire investor Bill Ackman, whose firm is the target of a government probe into possible manipulation of Herbalife Ltd. stock, said no one from his office has been questioned or subpoenaed as part of the investigation.
While a contractor with ties to Ackman’s hedge fund has been questioned by the Federal Bureau of Investigation or the Department of Justice, no employee of his was involved, Ackman said in an interview on Friday with Bloomberg Television. Ackman identified the contractor as Global Strategy Group, which handles government relations, saying subcontractors of that company also are being questioned.
“My understanding is Global Strategy Group has been contacted by either the DOJ or the FBI,” he told Bloomberg TV’s Stephanie Ruhle and Erik Schatzker. “And some of their subcontractors have received a subpoena.”
Ackman and his hedge fund, Pershing Square Capital Management LP, have waged a more than two-year campaign against Herbalife, saying the nutrition company is a pyramid scheme. Herbalife, based in Los Angeles, has repeatedly denied the allegations.