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U.S. Securities and Exchange Commission
SEC accuses two men of insider trading on Herbalife
SEC accuses two men of insider trading on Herbalife

The Securities and Exchange Commission accused two men of insider trading for acting on advance word that hedge fund manager Bill Ackman planned to bet against nutritional products company Herbalife Ltd. It's the latest dramatic turn for the Los Angeles company, which is under federal investigation and has been fighting allegations for nearly two years that it operates an illegal pyramid scheme. The SEC accused Filip Szymik and Jordan Peixoto of using information obtained from Szymik's roommate, who was working as an analyst at Ackman's hedge fund, Pershing Square Management. In December 2012, Ackman accused Herbalife of operating a pyramid scheme and announced he had...

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