Company receives a Civil Investigative Demand from the US Federal Trade Commission.
The company has acknowledged the demand and says it “welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully” with the investigation.
This is no doubt a result of pressure from billionaire short-seller Bill Ackman whom we’ve reported heavily on in the past. Bill has a few friends in high places and is pulling out the stops to kill the company. As we’ve predicted, he isn’t likely to win and is just building a final case for his own major losses.
I actually think this can be a good thing overall and a turning point in the Ackman saga. Why? Because I believe HBL will prevail and the industry can be done with this greedy wall street opportunist once and for all.