July 14, 2016 / 4:46 PM / 2 years ago

Ackman still betting against Herbalife because of its business model

NEW YORK, July 14 (Reuters) - Bill Ackman said on Thursday that he’s still betting against the shares of Herbalife Ltd and that the company needs to make “material changes to its incentive structure.”

Ackman, who made his comments on CNBC, said he also believes Herbalife and the government are “quite close” to a resolution about Herbalife’s business practices.

Ackman said a number of videos highlighting “false and misleading claims” made by Herbalife have been published on “Facts About Herbalife,” a website maintained by Ackman’s firm Pershing Square Capital Management. (Reporting By Jennifer Ablan)

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