Last week, Herbalife shares took a bit of a dive after a senator suggested that the SEC and FTC might want to consider possibly looking into whether anything Bill Ackman has said about the company might be true. This week, they’re back to costing Pershing Square investors money, because Herbalife’s chief cheerleader has decided he’ll only be singing its praises privately from here on out, and to the choir, at that, presaging something very bad for said Pershing Square investors, people say.
Tim Ramey left his job as an analyst for D.A. Davidson & Co. in Lake Oswego, Oregon, to join Post Holdings Inc. as director of strategic ventures on a consulting basis, Post Chairman and Chief Executive Officer William Stiritz said in a telephone interview. Ramey, who has criticized hedge fund manager Bill Ackman for accusing Herbalife of being a pyramid scheme, will report to Stiritz at Post. Stiritz is Herbalife’s fourth-largest investor, with 6.4 percent of the shares as of Nov. 18, according to data compiled by Bloomberg….
Stiritz, 79, declined to say what his intentions are as it relates to Herbalife or whether Ramey was hired to help take the nutrition company private.
Robert Chapman, founder of hedge fund Chapman Capital LLC in Manhattan Beach, California, said in a phone interview that Ramey’s status as a consultant for Stiritz may presage a buyout.