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Fox Business exclusive report that is breaking at this hour word coming in.
On herbal life -- the stock is getting hammered this morning Charlie Gasparino with report that Herbalife investors are demanding an aggressive.
Stock buyback programs down not and a half percent plus so is.
Herbalife in the market and if so by how much -- on the telephone with us right now what's the deal.
Well when I first started reporting is that this morning the stock was down 8% -- -- down almost 10% -- mean it is losing.
Ground pretty busy here -- what we -- -- Bottom line is that investors in Herbalife impaled in the company.
Demanding a more aggressive buyback program what we do know is that seems to January 17 announcement that they have a billion dollars worth the buyback authority.
Herbalife had been in the market buying back shares it is a lot less aggressive been.
There would investors want and the reason why at least according to people close to the company to tell the Fox Business Network.
Is that they believe that there are not long battle attack -- they just don't wanna do it all at once.
They think they're gonna be fighting -- -- for years of you know equities very -- is MBIA short is that is -- key thing bill lacked an activist investor who shorted.
MBIA just says he shorted herbal sustainable companies -- essentially fraud.
He was -- an MBIA for years I would -- them like five years I believe its first.
Its first talk -- about it at the age first up talking about it 20028.
Intention to do 2008.
So they know there -- a long battle and that's what they're saying if people close to the company is -- That it has significant resources to buy back shares stock.
Access to excuse me cash and act as the bank like to credit.
But -- -- -- it in this less aggressive.
Approach right now at least.
Because it degree it is expects a long battle with act without basic what might -- speed up this approach.
On our report that you -- as we were already busy we are deployed throughout the stock -- -- percent.
They may do they may be in -- market later on today's stock buyback shares more aggressively but this is what we know right now they're -- it there in the market -- -- very slow.
Investors are demanding more and that stock is getting -- right.
-- -- Charlie Gasparino with more foxbusiness.com.
And on the network up throughout the day about breaking story time.
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