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  "docSlug": "954987ce0454",
  "documentTitle": "Mettler-Toledo International, Inc. (MTD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-24 00:00:00",
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      "kind": "callout",
      "text": "CEO With A Potentially Misrepresented Bio Undermines Confidence",
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      "text": "Relationship Too Close With PwC, An Auditor Slapped With Dozens Of Lawsuits For Failing To Catch Fraud",
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      "text": "Evidence of Massive Cost Capitalization of Software And A 12yr ERP Implementation Dubbed \"Blue Ocean\"",
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      "text": "PwC has financially settled many high profile cases... Every Mettler CFO since coming public in 1998 has worked at PwC... Mettler has no named Chief Accounting Officer...",
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      "text": "Around the time CEO Filliol took charge in 2007, Mettler embarked on its \"Blue Ocean Program\"... We believe it may be serving as massive bucket to capitalize significant R&D costs...",
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      "text": "A close look at a subtle change in his biography... Various company sources suggest he ran the Analytics Division... We estimate Filliol has extracted $257m...",
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      "text": "downside risk: 30%-50%",
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      "text": "Spruce Point Estimates 30% – 50% Downside Risk",
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