Activist investor Bill Ackman, head of hedge fund Pershing Square Capital Management, plans to deal a “deathblow” to Herbalife (HLF) Tuesday during his firm’s presentation of an investigation into the company.
“You’re going to learn why Herbalife is going to collapse,” Ackman told CNBC Monday. “This is the largest fraud, public fraud, in terms of scale of countries involved and harm to people.”
Shares of Herbalife fell over 11 percent in Monday’s trading session following Ackman’s announcement.
Ackman said his company has amassed hundreds of hours of video and audio evidence, as well as internal documents from concerned employees. He plans to take investors and anyone interested through those materials in detail during Tuesday’s event, which he called “the most important presentation” of his career.
“We wont disappoint,” he added.
The talk will take place at the AXA Equitable Center in New York at 10 a.m. ET Tuesday. Ackman has invited Herbalife CEO Michael Johnson and his senior management team to attend and “sit in the front row.”
Ackman has pursued the nutrition-focused company since December 2012, claiming Herbalife is a pyramid scheme that has taken advantage of both employees and consumers.
Herbalife has rebuffed Ackman’s relentless attacks against the company and accused the activist investor of trying to manipulate the market. The company took to Twitter last week to gain popular support, labeling Ackman the “Worst of Wall Street.”