B. Riley Drops Coverage of Herbalife (HLF) Amid Ack-Attack

December 24, 2012 8:14 AM EST
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Price: $53.01 -0.24%

Rating Summary:
    6 Buy, 5 Hold, 1 Sell

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Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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B. Riley is throwing in the towel on Bill Ackman short target Herbalife (NYSE: HLF). Today the firm discontinued coverage of the hated stock. Previously they had a Buy rating.

Shares of Herbalife are down 36 percent since Ackman and his Pershing Square hedge fund reveled a long-held short sale last Wednesday. On Friday, he launched a website dedicated to the stock - factsaboutherbalife.com.

The company is not taking the Ack-attack standing down. The company has already called Ackman a stock manipulator and will host an analyst day the week of January 7th, 2013 "to respond in detail to the distorted, outdated and inaccurate information contained in Pershing Square's presentation."

Amid today's news, there will be one less analyst on the call.

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