Short seller bets against consumer products company Church & Dwight

Spruce Point Capital Management issued a research report questioning consumer products company Church & Dwight's accounting practices and acquisition strategy. Church & Dwight issued a statement to CNBC, saying, "we have confidence in our long-term plan to deliver superior returns based on our 'evergreen business model' and our strong second quarter results demonstrate our continued momentum." Ben Axler, founder and CIO of Spruce Point Capital Management, joins "Squawk Box" to discuss.