Herbalife shares spiked 9.4 percent on Monday to $74.83, after Carl Icahn said the nutritional supplements company was undervalued.
Icahn made his comments after a reaudit by PricewaterhouseCoopers of the company’s 2010-2012 financial statements revealed nothing untoward.
Earlier in the day, the nutritional-supplement maker said there were no material changes to the financial statements under review.
Herbalife had to find a new auditor earlier this year to replace KPMG, which resigned in the wake of an insider-trading scandal.
Herbalife has faced intense criticism over the past year since activist investor Bill Ackman claims it was a pyramid scheme whose stock would go to zero.
The company strongly rejects that argument.
Icahn and other big-name investors oppose Ackman and have taken long postions in Herbalife.shares are up 127 percent this year.