For nearly a year, Pershing Square Capital hedge fund CEO Bill Ackman has been calling Herbalife a Ponzi scheme, now he's calling the company's time of death. In a speech given for MBA student at Oxford, Ackman said that Herbalife will be shut down, and that his efforts, "will have made progress in that direction within twelve months," reports Business Insider, citing video of Ackman's speech.
In late 2012 Ackman announced a massive short position in Herbalife, declaring the nutritional supplement company a pyramid scheme. Rival hedge fund titans Daniel Loeb and Carl Icahn challenged him, with Loeb announcing a long position in Herbalife and Icahn questioning Ackman's investment skills in a live showdown on CNBC.
To watch Ackman's Oxford interview, visit YouTube.