March 13 Nutritional products company Herbalife
Ltd, which is being investigated by the Federal Trade
Commission, said it postponed its annual shareholders' meeting
to April 29 to continue discussions with Carl Icahn about new
The meeting was originally scheduled for April 24.
Herbalife shares were up about 1 percent in extended trading
Carl Icahn, the company's biggest shareholder with a 16.8
percent stake, has supported Herbalife in its fight against
billionaire investor William Ackman.
Ackman's Pershing Square Capital Management believes
Herbalife is an unsustainable pyramid scheme destined to
collapse. Icahn has contended that it is a good company with
Herbalife gave Icahn two board seats in February 2013 and
the right to raise ownership of the company to 25 percent.
The activist investor's publicly traded investment vehicle
Icahn Enterprises' new Chief Executive Keith Cozza is
already a director on Herbalife's board.
Herbalife shares closed at $57.31 on the New York Stock