Hedge fund mogul William Ackman, who has spent more than two years accusing Herbalife of running a pyramid scheme, said on Monday that shutting down the company is "one of the most important things" he can do.
Speaking at a meeting of the Council of Institutional Investors' in Washington, Ackman said again that Herbalife has caused "enormous harm to a very vulnerable population" by targeting undocumented Latinos in the United States and other poor people.
Sparking some laughter in the audience, he urged everyone who might own stock in the company to sell it.
The company has vehemently denied running a pyramid scheme ever since Ackman's $20 billion hedge fund, Pershing Square Capital Management, first unveiled a $1 billion short bet against the company in December 2012. Federal and state regulators, including the Securities and Exchange Commission and the Federal Trade Commission, are investigating the company.