date:Jul 23, 2014
Herbalife Ltd shares fell the most in three months yesterday after billionaire Bill Ackman vowed to show Enron Corp.-like fraud at the seller of supplements and weight-loss shakes.
Ackman, head of Pershing Square Capital Management LP, said on Bloomberg Television that his firm has devoted $50 million of investors money to prove that Herbalife is a pyramid scheme. The results of the undercover investigation, which focuses on Herbalifes nutrition clubs, will be released at a presentation today i