Ackman, head of Pershing Square Capital Management LP, said on Bloomberg Television that his firm has devoted $50 million of investors' money to prove that Herbalife is a pyramid scheme. The results from the undercover leisure fat burners slimming coffee investigation, which focuses on Herbalife's nutrition clubs, will be released at a presentation today in New York.

"Trust me, if you notice the stuff we have," Ackman said within an interview on "Market Makers" with Stephanie Ruhle and Erik Schatzker, "you will conclude the money was well spent." He suggested the nutrition clubs -- part of Herbalife's direct-selling approach -- resemble the fake trading rooms setup by Enron before accounting fraud resulted in that company's bankruptcy in 2001.

 

Ackman has waged a battle to turn off Los Angeles-based Herbalife since December 2012. He's bet $1 billion against the company, saying it misleads distributors, misrepresents sales figures and sells an investment product at inflated prices. U.S. regulators and law enforcement are also investigating allegations that the clients are a pyramid scheme.

 

Herbalife's stock fell 11 percent to $54.02 yesterday, marking the largest decline since April 11. The shares have tumbled 31 percent this season. Herbalife shares traded in the equivalent of $54.01 at 10 a.m. in Frankfurt in trading of 573 shares.