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  "documentTitle": "U.S. Concrete Inc (USCR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-05-17 00:00:00",
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  "notes": "The slide uses a bar chart to correlate fee spikes with auditor changes, and includes biographical callouts to cast doubt on the auditor's credibility.",
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      "kind": "callout",
      "text": "March 2017: Audit fees spiking before USCR dismisses Grant Thornton as auditor in 2017. Appoints E&Y",
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      "text": "March 2012: Dismisses PwC as auditor",
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      "text": "Audit Fee vs Total Fees Paid To Auditor 2012-2017",
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      "text": "Audit Fees: $1,169",
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      "kind": "paragraph",
      "text": "USCR is on its third auditor in the past few years. We see that its audit fees have started to rise in advance of the recent dismissal of Grant Thornton. The Company’s most recent engagement partner is Brian Trimble according to the PCAOB, a Grant Thornton audit partner based in Tulsa, Oklahoma despite the fact that U.S. Concrete is based right outside of Dallas, TX. (1) According to public records, Mr Trimble started his career at the defunct auditor Arthur Andersen (which collapsed from the Enron scandal) and later worked at Samson Resources Corp, which filed for bankruptcy (2)",
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      "kind": "source-note",
      "text": "Source: USCR Proxy Statements 1) PCAOB and public biography 2) Samson Files For Bankruptcy, WSJ 9/17/15",
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      "text": "Audit Fees Rising In Advance of Recent Auditor Dismissal",
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