NEW YORK (TheStreet) -- Pershing Square Capital Management's Bill Ackman will present his new findings on Herbalife (HLF) at 9:15 a.m. ET after the hedge fund manager said on Monday he has spent $50 million to press a public relations battle against company, which he believes is a pyramid scheme.
Ackman told Bloomberg TV he's spent $50 million of Pershing's limited partners' capital to research and publicize the fund's negative views on Herbalife. Those comments come ahead of a Tuesday presentation Ackman is holding that he said "will give the market sufficient information to shut the company down."
The hedge funder also indicated to Bloomberg TV his presentation, which was moved up late on Monday to 9:15 a.m. ET, may expose fraudulent activity at nutrition clubs run by the company's distributors.
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