Nutrition company Herbalife Ltd on Thursday dismissed Pershing Square Capital Management's criticism of its business saying the hedge fund presentation to a conference was riddled with "misstatements and mistakes," according to a press release.

Herbalife executives had been denied access to the conference where Pershing Square founder William Ackman presented his claims that Herbalife was an pyramid scheme.

"Had our executives been there, they would have been able to tear Mr. Ackman's premises and interpretation of our business model apart," Herbalife's statement said.

(Reporting by Emily Flitter)