Herbalife was given a boost on Monday after activist investor Carl Icahn nominated three people, two Icahn Enterprises employees and a director, to Herbalife's board of directors. This would give Icahn five seats on the 13-member board. Icahn Enterprises, Herbalife's biggest shareholder with a 16.8% stake, has been active in defending the nutritional supplements company against accusations it employs a pyramid scheme in its Chinese sales strategies. The FTC recently opened an investigation.

If you liked this article you might like

One of the Most Recognized Hedge Fund Managers Has Had a Terrible Year

Beleaguered Hedge Fund Titan Bill Ackman Is Having Another Rough Year

With Eyes on Solar Eclipse, Wall Street Stumbles Yet Again