HEDGE FUND WAR: Dan Loeb Buys Stake In Herbalife, Causes Stock To Soar, Hurting Bill Ackman’s Big Short

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Another major development in Bill Ackman’s big short of Herbalife, the distributor of nutritional products that he has likened to an illegal pyramid scheme.

Dan Loeb has bought a stake in Herbalife, according to the reports. The stock is surging. This hurts Bill Ackman, who had a massive short on the stock. More to come.

Dan Loeb’s Third Point has bought a more than 5% stake in Herbalife. cnb.cx/Iuc3zR $ HLF (via @andrewrsorkin)

— CNBC (@CNBC) January 9, 2013

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