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  "documentTitle": "The Procter & Gamble Company (PG)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
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  "presentationDate": "2017-09-21 00:00:00",
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      "text": "Significant data errors allowed P&G to grossly overstate both the peer median and the expansion of peer margins.",
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      "text": "Significant data errors allowed P&G to grossly overstate both the peer median and the expansion of peer margins. The reality is that Mondelēz had best-in-class margin expansion from 2013 to 2016.",
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      "text": "Trian's median performance across all of the listed investments beat the S&P 500 by +490bps annually... DuPont equity returns were calculated incorrectly... Ingersoll Rand equity returns were calculated incorrectly... Mondelēz equity returns were calculated incorrectly...",
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      "text": "Unless otherwise noted, all information is sourced from Bloomberg, Capital IQ, and applicable SEC filings or company reports",
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      "text": "APPENDIX: Material Data Errors and Misrepresentations in P&G’s Presentation",
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