Situation Overview
After a ruthless five-year-long activist short campaign against Herbalife Nutrition, Bill Ackman's hedge fund Pershing Square Capital Management finally fully exited its position in the Company in February 2018. This marked the end of a short campaign that was unprecedented in terms of its scale, duration and cost, and the extent to which it played out in the public arena.
Beginning in 2012, Herbalife Nutrition mounted a comprehensive and multi-faceted defense of the Company, that supported our financial and operational performance and sustained morale, bolstered our reputation among key stakeholders, protected our brand, and ultimately lead to a...