{
  "docId": "019dd923-622c-750b-8b98-f1acfdee233e",
  "docSlug": "a458f84d7f69",
  "documentTitle": "Forescout Technologies (FSCT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-05-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 27,
  "pageCount": 55,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 100,
  "notes": "Uses red boxes and arrows to visually link the undisclosed plan to the 'Difference in Forecasts' table.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "data_table",
    "comparison_table",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-f1acfdee233e/27",
  "deckHref": "/decks/019dd923-622c-750b-8b98-f1acfdee233e",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-f1acfdee233e.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-f1acfdee233e#slide-27",
  "components": [
    {
      "bbox": {
        "h": 0.2,
        "w": 0.23,
        "x": 0.75,
        "y": 0.75
      },
      "kind": "callout",
      "text": "Why was only the more optimistic (1) Target Plan provided to prospective acquirers when the less optimistic (2) Preliminary Alternative Plan represented plausible variability in Forescout’s future results?",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3e644d9a-440e-47cb-9165-e70fec356f28",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Why was only the more optimistic (1) Target Plan provided to prospective buyers when the less optimistic (2) Preliminary Alternative Plan represented plausible variability in Forescout's future results?",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-2041-7259-a85e-492e85255da4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.6,
        "x": 0.13,
        "y": 0.75
      },
      "kind": "list",
      "text": "Management Discussion points",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "27761030-a2eb-4f76-a81d-b499e3db81a0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBIT: -184.6%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-2041-7259-a85e-4f03b0eb16d3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.96,
        "x": 0.02,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "In Nov 2019, management completed its (1) “Target Plan” and (2) “Preliminary Alternate Plan”... why was this not explicitly communicated to potential acquirers?",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c21c7744-488a-45cf-8f6f-2880b3b51139",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.6,
        "x": 0.13,
        "y": 0.345
      },
      "kind": "table",
      "text": "Target Plan table (2019E-2029E)",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "138d0750-9eb9-4bd8-861f-7b0d0e6d66de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.25,
        "x": 0.72,
        "y": 0.44
      },
      "kind": "table",
      "text": "Difference in Forecasts table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "256de23f-7eb5-4cb6-a87a-dbc915301e64",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.6,
        "x": 0.13,
        "y": 0.65
      },
      "kind": "table",
      "text": "Preliminary Alternate Plan table (2019E-2023E)",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49bdc3e9-6201-4c42-982c-bccda6e5d650",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.7,
        "x": 0.28,
        "y": 0.02
      },
      "kind": "title",
      "text": "Low-End Forecast Of Financial Outcomes Not Provided To Prospective Buyers?",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3811ed3e-da67-4800-a22c-6c13c4265343",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "c1fe2165-fb43-4971-9324-b98e9a850196",
      "evidence": "Exposing selective disclosure of material financial information to acquirers.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 30,
      "from": 13,
      "beatId": "2d6d1bbe-fc3f-4812-8f4d-46da0a87bd2b",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "Spruce Point presents its case for why Advent should reconsider the deal.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}