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  "docSlug": "11e962264b36",
  "documentTitle": "Carvana Co. (CVNA)",
  "authorId": "54_Spruce_Point_Capital",
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  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-03-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 46,
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  "notes": "The slide uses a grid of customer complaints to build a case against the company's inspection and disclosure claims.",
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      "bbox": null,
      "kind": "callout",
      "text": "In many cases, Carvana has delivered vehicles in dangerously poor condition, and has hidden the fact that a vehicle has been in an accident. Note that, depending on the state, failing to disclose that a used vehicle has been in an accident constitutes dealer fraud.",
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      "kind": "list",
      "text": "Four distinct customer complaint blocks with source links.",
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      "kind": "paragraph",
      "text": "We find countless reports of Carvana vehicles being delivered in poor condition. While many of these are complaints about the cosmetic state of the car, we also find a sizable quantity of more serious claims regarding the condition of delivered cars. In many cases, Carvana has delivered vehicles in dangerously poor condition, and has hidden the fact that a vehicle has been in an accident. Note that, depending on the state, failing to disclose that a used vehicle has been in an accident constitutes dealer fraud.",
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      "kind": "quote",
      "text": "The first words the mechanic said to me were \"Did you know this car has been in a wreck?\" I told the mechanic that Carvana said it had been damaged in transport. The mechanic told me that it was more than damaged. It had been in a wreck. — Anonymous Customer",
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      "kind": "title",
      "text": "Poor Reconditioning Practices And Lack Of Disclosure Regarding Vehicle Condition",
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