Carl Icahn's Not So Hostile Herbalife Board Seat
Since gaining seats to Chesapeake Energy's board in 2012, Icahn's influence has helped to spur asset sales, a change of the company's board structure and the departure of the company's founder Aubrey McClendon.
For Ackman, Herbalife's late-afternoon disclosure added to what was already a rough day.
Pershing Square's largest holding, J.C. Penney (JCP) , reported a near 30% deterioration in its sales for the fourth quarter , pushing the struggling retailer's shares nearly 17% lower in Thursday trading.
The earning miss raises serious questions about whether the company's turnaround plan, as mapped out by CEO Ron Johnson, will succeed .
-- Written by Antoine Gara in New York