In just a few minutes, Bill Ackman’s firm Pershing Square Capital Management will begin unloading its latest round of ammunition against Herbalife Ltd. (NYSE:HLF). He’s been saying that the company is a pyramid scheme, and this time, his firm is hosting a live presentation and roundtable discussion with former Herbalife distributors who say they have been victimized by the multi-level marketing company.
Herbalife Ltd. (NYSE:HLF) has been accused of targeting low income and minority populations. Ackman’s firm has uncovered videos and promotional material from people allegedly connected with Herbalife who seem to be recommending that people even go into debt to become a distributor for the company. It will be interesting to see what those who feel victimized have to say.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More
This post will be update continuously as the presentation and discussion unfold.
The Herbalife presentation begins at 11 a.m. Eastern
11:03 a.m. – Herbalife CEO said they’re trying not to laugh. Bill Ackman said it isn’t a laughing matter. He says 88% of distributors make no commission, people who spend $4,000 t