Hedge fund manager Bill Ackman has given many momentous presentations in his day: the unveiling of his Herbalife short, his highly emotional address of Target shareholders, and all matters of MBIA. But believe him when he says such things will absolutely pale in comparison to tomorrow’s event. Forget the thousands of hours he’s already spent publicly lambasting Herbalife’s business practices in the past. THIS is the one you REALLY have to listen to. It will be the final word on diet shakes.

The Pershing Square founder, in a TV interview to promote his presentation on the multi-level marketing company set for Tuesday morning, said the event “will be the most important presentation I’ve made in my career.” “You’re going to learn why Herbalife is going to collapse,” he said on CNBC, acknowledging that “I’m raising expectations, but we won’t disappoint.” [...] Ackman said the presentation is the culmination of a two-year investigation by his team, with videos and internal documents showing how Herbalife’s nutrition clubs perpetuate the alleged fraud. Nutrition clubs have been the biggest driver of the company’s growth over the past five years, according to Ackman. On Friday, he upgraded the event from a webcast to a live event in midtown Manhattan.

Ackman’s made no mention of the fact that the Mets are out of town tomorrow and the Barclays center is available, but presumably his people are working behind the scenes. In any event, the permits to air the whole thing on a Jumbotron in Times Square should be coming through shortly.

Ackman says expose will show Herbalife is destined to collapse [NYP]

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Comments (8)

  1. Posted by RZA | July 21, 2014 at 3:32 PM

    I guess the bro hug with Icahn was just a front. A similar thing happened between Biggie and Pac.

    Wu Tang Financial is having some news come out tomorrow as well, stay tuned

  2. Posted by Guest | July 21, 2014 at 3:49 PM

    HLF is down 1,132 bps today; it's probably just the broad market.

  3. Posted by Guest | July 21, 2014 at 3:52 PM

    If you have to quote the move in thousands of basis points, it's probably best just to use the percentage…

    – Guy who isn't a try-hard

  4. Posted by Finance Tool | July 21, 2014 at 3:58 PM

    Probably a Stock Loan guy. Bro this thing is trading -99 I have 100K to go there. I won't recall you bro!!

    SI SL "Trader"

  5. Posted by Guest | July 21, 2014 at 6:15 PM

    SI = "strong island"?

  6. Posted by Eddie V | July 21, 2014 at 9:33 PM

    william spoke in class today

  7. Posted by Seriously Confused | July 22, 2014 at 10:05 AM

    *Staten Island

  8. Posted by IBANK4LIFE | July 22, 2014 at 11:45 AM

    What he said: "Ask yourself why poor Latinos would purchase overpriced nutrition products”

    What he thinks: "They just eat burritos out of trucks"