Live Updates From Ackman's Herbalife Presentation

These headlines were first posted to Benzinga Professional.

• 1:09 pm Herbalife Shares Make New Day High, Up ~17%
• 12:51 pm Bob Chapman Promoting Herbalife on CNBC - Put $150 one year price target on Herbalife, Says Ackman was admittingly ignorant that he doesn't understand growth drivers, Says Herbalife is his biggest bet ever
• 12:24 pm Ackman Says Icahn Did Not Do the Type of Due Dilligance He Did
• 12:19 pm Ackman Taking Questions from Audience
• 12:04 pm Ackman Notes that CEO Johnson Sold $15 million into buyback
• 11:53 am "Michael Johnson Will Go Down in History As teh Best CEO of a Pyramid Scheme."
• 11:36 am The Club System is Described - Working up to Club 100 you unlock new privileges. At 25 members you can become a Daily School Club - others go to your club to learn and consume. At 50 you can train new recruits. At each level you must buy more inventory than at prior level. The presentation explains that there are no disclaimers for the cost of training in time and money, or the capital required to open a club.
• 11:10 am  Herbalife Trading Volume 750% Higher Than Normal 
• 10:52 am  Highlighting 'Club 100' Certification Which Requires Training, However Attendees Are Advised Not to Tell Others They Are Being Certified - Ackman seems to be implying this is to make clubs look like there are more members than there actually are.
• 10:40 am  Herbalife Shares Now up ~7% On Ackman's Presentation

• 10:26 am  In 2010, 70% of Business in Mexico was from Nutrition Clubs

• 10:21 am  Pershing Square Spent $50M to Investigate 240+ Nutrition Clubs

• 10:14 am  Highlighting Main Target in US is Latino Population, Other Minorities

• 10:12 am  Shares Of Herbalife Trading Up ~2%

• 10:11 am  Doc from Former Employee Shows Bottom of Pyramid Cannot Participate in Globalization

• 10:10 am  Showing Off Highlights from Documents Pershing Received

• 10:02 am  6K Users Tuned Into Ackman's Presentation on Herbalife

• 10:01 am  Ackman's Presentation on Herbalife Has Just Begun

Headlines will be updated every several minutes