Renewed Attack on Herbalife From Bill Ackman's Pershing Square Heats Up

Billionaire activist Bill Ackman is not cutting his hedge fund's losses in a massive short bet against Herbalife (HLF) - Get Report . In fact, he stepped on the gas this week with a new video series once again portraying Herbalife as a so-called pyramid scheme. Ackman first made public a $1 billion short position taken by his hedge fund, Pershing Square, in December 2012, and has since been battling Herbalife over more than three years of exchanges. (Herbalife shares have more than doubled since Ackman's initial presentation.) Herbalife, on one hand, has been calling Ackman a 'Wall Street gambler' who's unfairly manipulated shares, while Ackman has been persistent in his public accusations that Herbalife is a pyramid scheme that preys on low-income U.S. Latino communities through its recruitment and compensation practices.

This article was written by a staff member of TheStreet.