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Yeah this was recently in the news in Massachusetts. It appears he persuaded a Mass. Senator to ask for investigations, in order to hurt the stock price and sup
by 6cxs2hd6 12y ago
Yeah this was recently in the news in Massachusetts. It appears he persuaded a Mass. Senator to ask for investigations, in order to hurt the stock price and support Ackerman's short gamble:
> In Washington, Mr. Ackman’s efforts bore fruit on Jan. 23, when Mr. Markey’s office, which Mr. Ackman had lobbied himself and which had been provided with detailed information about Herbalife by Mr. Ackman’s team, sent letters to the S.E.C. and F.T.C., calling for investigations of the company. A little more than a half-hour after the stock began trading that day its value fell by 14 percent.
You could say that Ackerman sincerely believes the company is bad and is pursuing this for the greater good. The $1 billion is just putting his money where his mouth is. And his mouth just happens to be near a Senator's ear....
- hownottowrite 12y agoYes, he sure seems like a stand-up guy: http://www.cnbc.com/id/100953220 http://www.cnbc.com/id/100953220 "Ackman was the primary engineer and architect of recruiting Ron Johnson to the company, and he and Ron Johnson pulled off this strategy that has fractured the company and ruined the lives of thousands of J.C. Penney employees and fractured shareholder value," Howard Schultz, CEO and Founder of Starbucks and JCP Board Member