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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