On its alleged day of reckoning shares of Herbalife (NYSE:HLF) instead saw 25% gains. Confused? What happened here was a classic case of over-promising and under-delivering.

Bill Ackman, whose hedge fund Pershing Square has a massive short position on Herbalife, promised to deal the company a deathblow in a presentation today. That deathblow wasn't even glancing, despite spending $50 million on an investigation to uncover what Ackman sees as a fraudulent business model. Of course with government investigations pending, it remains too early for Herbalife bulls, including rival hedge fund titan Carl Icahn, to declare victory.

In this video Motley Fool health care analysts David Williamson and Michael Douglass, discuss Ackman's would be "death blow" dealing presentation and how most investors should approach this battleground stock.