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  "documentTitle": "American Tower (AMT)",
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  "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": "The text highlights a specific accounting discrepancy of 34 towers and $6-7 million between two companies, suggesting potential impropriety.",
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      "text": "While US$6.0 million and 34 towers normally would not be a material amount for a company of AMT's size, we strongly believe that in light of the US$250 million discrepancy in the Site Sharing transaction, the transactions with NIHD should be closely examined for possible impropriety.",
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      "text": "We also have concerns regarding the overlapping board memberships of Carolyn Katz, who presently chairs the audit committees for both AMT and NIHD...",
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      "text": "and AMT bought the shares back from him after very short holding periods, and at valuations far greater than what he had paid.",
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      "text": "Mr. Hess's transactions were disclosed in footnotes to the proxy statements. However, this type of arrangement had the effect of keeping Mr. Hess's full compensation out of the compensation table portion of the proxy statement...",
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      "text": "AMT states that as of December 31, 2003, it had acquired 665 towers from NIHD for US$112.4 million. During this same period NIHD reports it sold only 631 towers for US$106.4 million...",
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      "text": "32 AMT 2013 Proxy Statement, p.8. 33 Id. 34 NIHD 2004-2013 Proxy Statements. 35 Id. 36 NIHD stepped disclosing related information after 2008. 37 The fluctuations between US$6 million and US$7 million likely reflect currency fluctuations...",
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