Herbalife Ltd. (NYSE: HLF) remains one of the most controversial stocks on Wall Street and Main Street. That controversy is set to come to yet another head on Tuesday, July 22, 2014.
Activist investor, and short selling activist to boot, Bill Ackman of Pershing Square is set to release what he called new evidence of fraud on a phone-in interview on CNBC on Monday. Ackman is issuing a new presentation on Tuesday against Herbalife, and he said that he will stake his entire reputation on the matter.
Ackman even said that China was a side-show compared to what is happening at Herbalife here in the United States.
Herbalife disagrees. The company has issued two different releases in recent days:
- Independent Herbalife Members Demand Opponents Stop Lies and Smears
- Herbalife Sets the Record Straight Regarding Continuing Attacks From Pershing Square and Its Paid Supporters
Herbalife CEO Michael Johnson and CFO John DeSimone will be speaking on CNBC around 9:00 a.m. Eastern Time on Tuesday ahead of Bill Ackman’s presentation. Anyhow, the fight continues on Monday, and will go on Tuesday, and almost certainly will go on for a much longer time.
Herbalife shares were trading slightly above $59 prior to Ackman’s CNBC appearance, after closing at $60.84 on Friday. Shares were down over 6% and had dropped under $57 shortly after Ackman’s bash against the company.
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