UPDATE 1-Ackman says Herbalife execs are hiring their own lawyers

April 13, 2015 10:33 PM

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NEW YORK, April 13 (Reuters) - Billionaire investor William Ackman, who has long accused Herbalife Ltd of being a fraud, said on Monday that the top executives at the nutrition and supplements company are hiring their own lawyers as government investigations pick up pace.

"We know they have been or are looking to hire criminal defense counsel," Ackman said at the 13D Monitor Active Passive Investor Summit on Monday.

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