A little more than a year after Pershing Square Capital CEO Bill Ackman covered his long-suffering short on multilevel marketer Herbalife, the company’s shares have been slowly falling for several months.
The decline comes as the market continues to soar, and Herbalife posted strong 2018 earnings — an indication that the company is surviving the restrictions placed on it by the Federal Trade Commission as part of its $200 million settlement with the regulator in 2016.
