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  "documentTitle": "Focus Media Holding Ltd. (FMCN)",
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  "authorName": "Carson C. Block",
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  "presentationDate": "2011-11-21 00:00:00",
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  "notes": "The slide uses aggressive, accusatory language ('Human Piranha-speak', 'faces ripped off') to frame the financial data as evidence of insider malfeasance.",
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      "text": "FMCN shareholders lost a total of $159.6 million on FMCN’s investment in Allyes Information Technology Co. Ltd. But shareholders will be comforted knowing that insiders likely made at least $70.1 million trading in Allyes on the other side of FMCN.",
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      "text": "Cumulative Write-downs & Losses: $1,052,954",
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      "text": "Greed, for lack of a better word, is good...but not for shareholders of FMCN. FMCN has always been run for the benefit of insiders. The most egregious set of actions by insiders is the series of trades they executed with FMCN in Allyes.",
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      "text": "FMCN shareholders lost a total of $159.6 million on FMCN’s investment in Allyes Information Technology Co. Ltd. But shareholders will be comforted knowing that insiders likely made at least $70.1 million trading in Allyes on the other side of FMCN.",
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      "text": "In Human Piranha-speak, FMCN shareholders got their “faces ripped off” by insiders. — Muddy Waters, LLC",
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      "text": "68 See Lewis, Michael Liar's Poker, 2010 ed. p. 88. 69 Calculated as the difference between total consideration paid out in the transaction...",
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      "text": "VIII. All(Directors Say)Yes to Enriching Insiders",
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