Apparently Ackman has just released a NEW presentation: http://www.businessinsider.com/bill-ackman-new-herbalife-presentation-2013-3
it is not illegal but if he had a market moving position (which he does) he opens himself to accusations of market manipulation. He was short, she did not short it a day before he published the record, absolutely correct and he made clear all market regulators are crystal clear about that as well.