Bill Ackman To Release A Documentary On Herbalife Ltd. (HLF) Victims

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Bill Ackman To Release A Documentary On Herbalife Ltd. (HLF) Victims

Herbalife Ltd. (NYSE:HLF) is going to face yet another big attack from billionaire hedge fund manager Bill Ackman later this week.Short interest in the stock has grown to more than 13% of the float in the past few weeks as federal and state authorities opened investigations into the company’s business practices. Herbalife shares have declined more than 25% this year.

Ackman’s another attempt to prove that Herbalife is a pyramid scheme

Bill Ackman has decided to publicly showcase a documentary about Herbalife Ltd. (NYSE:HLF)’s former distributors who say that the company defrauded them. Ackman has shorted Herbalife stock since May 1, 2012. His hedge fund Pershing Square Capital Management is betting $1 billion that the stock would collapse because Herbalife is a pyramid scheme. However, shares of the nutritional supplement maker soared more than 165% in 2013 as Dan Loeb and Carl Icahn took bullish positions in the company.

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