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  "docSlug": "10dc4f9f3e31",
  "documentTitle": "American Tower (AMT)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2013-07-17 00:00:00",
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  "notes": "This is a page from a Muddy Waters research report, likely a short-seller thesis.",
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      "text": "AMT would be at risk of abetting the selling shareholders, who are Brazilian, in committing tax fraud.",
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      "text": "The slide details discrepancies in AMT's 2011 Brazil tower purchases, questioning the logic of cash usage and currency exchange losses, and casts doubt on the valuation firm's integrity by comparing it to the Sino-Forest case.",
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      "text": "On March 1, 2011, the Company acquired 100% of the outstanding shares of a company that owned 650 communications sites in Brazil for $583.7 million, of which $543.3 million was paid using cash on hand during the six months ended June 30, 2011. — AMT Q2 2011 10-Q",
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      "text": "19 This range results from subtracting $419.2 million from both the $585.3 million AMT claims to have been obligated to pay, as well as from the $543.3 million AMT claims to have paid by the end of Q2 2011. 20 AMT Q2 2011 10-Q, filed August 4, 2011, p. 19. 21 AMT Q1 2012 10-Q, filed May 3, 2012, p. 21.",
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      "text": "Dodgy Valuation Firm",
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