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FBN’s Charlie Gasparino on Herbalife’s fight against investor William Ackman’s accusation that the company is a Ponzi scheme.
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Carried -- hadn't Herbalife fighting back against accusations from an investor bill -- that the companies running a quote -- -- yeah.
The stock it's getting a pop today on news that the company may hire famed attorney David Boies to consider legal action insisting -- with -- exclusive.
Details Fox Business senior correspondent Charlie Gasparino Charlie we went -- they have hired.
-- -- -- only been hired they may file legal charges against them some sort of a libel case against act when.
For what they believe is a libel -- seen through you know a company that -- -- a pyramid scheme.
I don't know for to him extradited -- tell you that.
The lack when somebody I covered a lot to very successful short so that means he.
-- he makes money when stocks go down that's a short sale he was he's been successful companies like MBIA I covered that extensively during the financial crisis.
And you know he was right direction Leon MBIA I think he was wrong about the notion that.
He said that was a scam BP doing MBIA was kind of I think he's a pyramid scheme -- that doubt they'll Ponzi scheme on the it was the last one.
They weren't -- to -- there were affirmed but they were they what they invest they insured -- BI's bond insurer.
And bonds toxic debt -- can do bad businessmen to write -- a -- I think that's the problem with some of the stuff he says he goes way overboard but a lot of these short sellers do that.
On the terms of Herbalife here here's the what we've been talking about today -- stock got a big bump on a report that we did from Bob Chapman is another investor.
Long very critical he's a -- and as a very critical look -- called acting you know it accurately the PT Barnum financing that they could be -- big cities way off on this.
He told the Fox Business Network debt.
There's going to be major news big news is -- the -- used he told us involving the stock the next you know 2448 hours very soon.
Are you it's -- what that -- was on that report on that report only.
I tweeting that Fox Business we went on air with -- stock went up more than 6% it's now come down a little bit oftentimes it's -- -- but I think it's closing around 4%.
For half percent but there it is it is a pretty -- day today.
What that big news is I don't know I can only surmise boys is going to be -- voice the famed attorney.
Gonna be -- the Herbalife meeting on Thursday it's Thursday after leading to the morning it's at the four seasons hotel midtown could be a mob -- there although from what I hear the room itself that.
That the people -- -- be -- ensco only hold about a 120 people particularly about a 120 people outside.
You know reporters I believe doesn't turn into sort of a cause celeb on Wall Street so what that big news coming I don't know either they're gonna -- But we'll find out you'll have a -- a -- certain -- I actually think I try to -- thank you very much it.
