Pershing Square Releases Fifth in a Series of Videos Showing Herbalife’s False and Misleading Claims Continue

Video Demonstrates Aggressive and Deceptive Recruiting Practices Persist

NEW YORK--()--Pershing Square Capital Management, L.P. (“Pershing Square”) today released the fifth in a series of videos showing that Herbalife continues to make false and misleading claims about its fraudulent business opportunity to entice new recruits into its pyramid scheme. The videos are available at www.FactsAboutHerbalife.com.

Today’s video features prominent Herbalife distributors and executives, all of whom are still with the company today, making false and misleading claims about the business and teaching others to do the same.

Herbalife CEO Michael Johnson claims: “He [Mark Hughes] had this incredible dream that he could build financial independence for people globally, and we’re doing that.”

Chairman’s Club member Doran Andry misleads new recruits into thinking that they will make a fortune as soon as they start in Herbalife: “Learn as you go, but get rich as you learn.”

President’s Team member Enrique Carrillo explains how sponsors make money primarily from their downlines: “My sponsors are like … look at all the money I am making off you. How about next week you make an extra $1,000, $2,000, up to $100,000 a month.”

President’s Team Member Cindy Patterson confesses that success at Herbalife requires endless recruiting: “It’s about duplicating, it’s about growing our royalty. If we are just there slinging a bunch of shakes and yes having a lot of fun … we are there to duplicate, to grow our checks … that’s what we are there for.”

Herbalife’s compensation plan incentivizes recruiting which fosters misleading and fraudulent distributor behavior. Herbalife remains a pernicious pyramid scheme in which 99% of distributors earn less than minimum wage and 86% earn $0 from the company.

To watch the videos and learn more about Herbalife visit: www.FactsAboutHerbalife.com.

About Pershing Square Capital Management, L.P.

Pershing Square Capital Management, L.P. ("Pershing Square"), based in New York City, is a SEC-registered investment advisor to investment funds. Pershing Square manages funds that are in the business of trading — buying and selling — securities and other financial instruments. Funds managed by Pershing Square are short the stock of Herbalife Ltd. and own put options on the company. Pershing Square may increase, decrease, dispose of, or change the size or form of its investment in Herbalife for any or no reason, at any time. Pershing Square may change its views about or its investment positions in Herbalife at any time, for any reason or no reason. Pershing Square may buy, sell, cover or otherwise change the form or substance of its Herbalife investment. Pershing Square disclaims any obligation to notify the market of any such changes. Please see the full Disclaimer appearing on website www.factsaboutherbalife.com and www.herbalifepyramidscheme.com.

Contacts

Pershing Square Capital Management, L.P.
Fran McGill, 212-909-2455
mcgill@persq.com

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