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Herbalife Lawyer Goes After Short-Seller Bill Ackman

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  • Description

    FBN’s Charlie Gasparino on accusations Bill Ackman manipulated Herbalife stock.

  • Duration 5:05
  • Date

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This transcript is automatically generated

Outspoken Herbalife investor Robert Chapman urges Charlie Gasparino.

To quote and I quote.

Peel back one.

A banana a banana on an onion daily basis.

And watch the company's high powered attorney David -- go after a short seller bill Ackerman what does boys have in mind.

Charlie Gasparino with the latest.

What do you -- handling -- well he -- online Q&A commodity just sit there and taking notes from bill -- mean.

-- an attack in accompanied partly you're not now not put this in the company these affecting very fair and.

So.

You know Chapman made these counseling for Chapman is kind of in the know about.

-- we get along a stocky -- -- that he likes it I know right from what I understand people at the company tell me that he's plugged in with management there's so there.

So either simpatico with him and would would would he sexually said to be so I think this is true.

That David -- -- lawyer.

That Herbalife is hired to go after act -- who's -- the short selling is prepared some sort of cases -- haven't said that involves stock manipulation that they believe.

That that that act went through his short selling through some of the comments quote unquote manipulate the stock what that is.

How that's done Chapman who won't tell me but I will say this and I've been talking to people close this company for the last couple days.

They believe -- remember I interviewed as walls share and -- -- I estimate the SEC investigation he or she would say is we cold the FCC.

He wouldn't go beyond that it's -- and that was our wealthiest the CEO -- the president the president president opportunity basic I was like what they called you that you call the back.

You wouldn't get into what the company is essentially -- behind the scenes now.

Is that these investigations that that have been reopened the SEC's -- an investigation.

They prompted by complaining about acme in and that these -- complained that happened is the stock manipulator.

What how he's doing it I don't know why it's been.

Manipulating the stock to go short I don't know I mean -- been other cases of this of this type in the past Fairfax financial hired high profile attorneys mark -- what's.

I invasive and and and might well we basically to go after SEC capital Dan Loeb whose long Herbalife.

And some other investor saying they colluded together to short sell the stock.

Put out false information and DC drive the stock down.

The stock didn't go down the stock essentially the covered it did pretty well.

But their case failed to -- -- because it's really hard to prove stock manipulation but apparently at least according to -- That this involves that they would boy is doing what he's preparing an illegal Lyndon -- file lawsuit yet.

Involves stock manipulation what the company is saying is behind the scenes.

The SEC got involved and interest it because of their complaints about act -- involving essentially.

-- -- -- -- Stock manipulation to short a stock however he should and a couple but explain that first -- takes the massive positions in those -- Akron moves the markets.

He's not this guy he's done JC Penney's -- target.

He gets very involved people listen to him the blocks that -- -- -- -- -- -- that comes out it was like -- -- -- manipulation -- I'm not saying it is -- more video website -- our -- offended by the way you're allowed to -- that's -- the First Amendment.

Markets are in the short term imperfect.

Right as you know long term they're much more reliable.

And what -- markets digest information.

He comes that was his information Dan -- comes out with its information and Herbalife and they're saying Jackman comes out with his -- act -- as well -- -- a pyramid scheme based I mean that's the fraud that he thinks.

He's going on here that this company doesn't make a lot of money really -- -- really sell that many products alls that does is gets people to sell those products distributors in those.

And basically pay a fee to the company to more should be easy get -- -- committed.

And that there -- -- -- some vitamins and I mean listed.

-- children spent on the for a five -- hundred years and I like really a hundred there's a significant atomic the downtown now.

They might be I have got to get a -- for the fact that they totally got elicited -- it's a little more personal it's been around for years is company.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I have -- bananas peel -- off.

That -- isn't this -- to -- to guide my view -- he thinks.

That I'm just because I sat there and asked BP CEO couple tough questions which by the way he answered pretty pretty well you know what I'm saying and and -- some issues that I'm some sort of a you know saloon just sitting there like you typing away would act like that it's fair to say you don't Jen you slack before -- Blackmun certainly at some other -- Billy Elliot had dual acting yells at -- -- you know Michael Ball in the that we should put out that I.

Cold I -- billions no comment as of now he may have come later today.

He's in as you know Burma scuba diving.

Active back if yes you did I told -- -- look like.

But part of a top priority you know we don't have like I like Chapman run around calling me a month you know basically called him monkeys is just stupid.

Stupid right now the deal breaker people are like -- -- bring buckets called the monkey.

I whatever.

They tell me Iraq thank you is that the legal department to show an illegal apartments selling cigarettes are -- -- -- out.

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