Tracking to the steep drop of over 25 percent in competitor Nu Skin shares, Nutrition company Herbalife Ltd's stock also plunged over seven percent.
Hedge fund mogul William Ackman, who has spent more than two years accusing Herbalife Ltd (HLF.N) of running a pyramid scheme, said on Monday that shutting down the company is "one of the most important things" he can do.
Despite getting clearance from accounting firm PricewaterhouseCoopers LLP regarding its fiscal statements for the last three years, activist investor Bill Ackman appeared to be not convinced that Herbalife Ltd is not operating a pyramid scheme.
Investors showed support in nutrition company Herbalife International on the stock exchange on Friday despite another attack from activist investor Bill Ackman of hedge fund Pershing Square Capital Management.
Herbalife Ltd fourth largest shareholder Bill Stiritz said he would most likely take part in a leveraged buyout of the company, as the nutrition company is in the middle of pyramid scheme accusations by hedge fund manager Bill Ackman.