Bill Ackman is taking a beating over the Herbalife ruling

July 15, 2016 12:34 PM

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Bill Ackman is taking a beating over the Herbalife ruling

Friday's ruling that Herbalife isn't a Ponzi scheme adds another layer to an already brutal year for hedge fund titan Bill Ackman.

The Pershing Square Capital chief has had a long-standing and very public short position on the dietary supplement company. He already had been sustaining major losses on the bet, but the Federal Trade Commission ruling, reported by Dow Jones and other sources, is the sharpest blow yet.

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