The Revenge of Bill: Herbalife Plunges After Admitting They Inflated Growth Numbers

This company is a huge piece of shit and I’m glad it’s crashing through the floor boards this morning. Plus anyway, Ackman has had enough damage inflicted to humble 10,000 ordinary men. I am certain he’s learned the many valuable lessons of humility these past 12 or so months and will sin no more. It’s time for a little revenge trading, of the biblical varietal.

Herbalife admitted to rigging their growth numbers this morning, sort of. They rigged it to the first degree and did so with great fraudulent energy, like any ordinary mountebank. But they’re blaming it on a spread sheet malfunction instead of plain old fraud. You know why of course. The latter sends them all packing towards clown raping prison.

A metric called active new members increased 3.2 percent worldwide in the fourth quarter from a year earlier, not the 16.7 percent cited on a Feb. 25 conference call, the Los Angeles-based company said in a regulatory filing Thursday. U.S. active new members increased 30.7 percent, not the 71 percent mention on the call, Herbalife said. Those were among more than two dozen instances where the company misstated new member statistics, according to the filing. The company relies on independent distributors to sell weight-loss shakes and supplements.

Bear in mind, on the other side of the ledger is old man Icahn, who is long out of his nostril hairs. Ackman, of course, is short to the magnitude of $1 billion.