Billionaire hedge fund manager Bill Ackman raised expectations on Monday that he will deliver a knockout blow to Herbalife Herbalife in their long and bitter battle, sending shares of the diet shake maker tumbling by more than 6%.
Ackman is slated to conduct a webcast presentation on Tuesday morning that will detail his findings from an investigation into Herbalife’s nutritional clubs.
In an interview with CNBC on Monday, Ackman said he will “expose an incredible fraud” during the presentation that he will give in front of an audience at AXA Equitable Center in New York. Ackman invited his rival, Herbalife CEO Michael Johnson, to attend the presentation and sit in the front row.
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