The embattled health-supplements seller, which has received Ackman’s scrutiny for its multi-level marketing sales arrangement, also said in a Monday press release that it has yet to use $950 million of a $1 billion share-repurchase program authorized by its board because of “trading blackout period restrictions.”
The statement may address analyst questions on why Herbalife had been hesitant to launch a large buyback to flush out Ackman’s short trade. Herbalife now says it expects to exceed its previously announced quarterly guidance of $50 million in share buybacks in coming quarters.
One Response to $HLF Hires Bankers, Delays Ackman Showdown
what a take-down for his y/e performance enhancement … epic-ly done