Herbalife (HLF) to Host Analyst Day to Respond to Short Seller Ackman
The company will host an analyst day the week of January 7th, 2013 to respond in detail to what it calls "the distorted, outdated and inaccurate information contained in Pershing Square's presentation."
After first disclosing his short in Herbalife on Wednesday, yesterday Ackman laid out his thesis against the company in a three hour presentation at the Ira Sohn conference. At the conference, Ackman said the company misrepresents its sales figures, misleads distributions about the earnings potential and sells a commoditized product at inflated prices. Ackman is short over 20 million shares and promised to give 100 percent of his profits to charity.