Ackman releases new video

BOSTON: Billionaire investor William Ackman revved up his campaign against Herbalife on Monday as investors await the outcome of a U.S. Federal Trade Commission (FTC) probe into the business practices of the nutritional supplements maker.

Ackman's hedge fund, Pershing Square Capital Management, released a video on Monday that it said illustrated what Ackman has called Herbalife's predatory recruiting practices. Ackman said it is the first in a series of videos that he will release this week on his website www.factsaboutherbalife.com.

Herbalife declined to comment. On the company's own website - www.therealbillackman.com - it says the fund manager's "legacy is riddled with losses."

Ackman has waged a four-year campaign against Herbalife, making a $1 billion short bet against it in 2012 and accusing it of running a pyramid scheme which pays members more for recruiting new members than for selling the company's supplements and weight-loss products.