Ackman's Pershing Square Declines Comment on Herbalife (HLF) FTC Investigation

Short seller Bill Ackman of Pershing Square declined to comment on today's FTC civil investigation of Herbalife (NYSE: HLF).

Meanwhile on the long side, Kerrisdale Capital's Sahm Adrangi told TheStreet: "It's interesting the stock is down only 8% on the news of the civil subpoena from FTC. I think the idea is that we'll finally put the regulatory issues to rest after the FTC investigation, although it may take a long time for the FTC to conduct its investigation. He added, "Given that it's practically impossible for the FTC to shut down the company's non-US operations, this development will accelerate the time when the long-term fundamentals of the story will ultimately overshadow the headline risk concerns." They believe the stock is worth over $100 per share.

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