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  "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",
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  "pageNumber": 5,
  "pageCount": 55,
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  "slideType": "key_takeaways",
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  "density": "balanced",
  "nDataPoints": 3,
  "notes": "This is an activist investor slide presenting legal and financial arguments for deal termination or price renegotiation.",
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  "deckHref": "/decks/019dd923-622c-750b-8b98-f1acfdee233e",
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  "components": [
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      "kind": "callout",
      "text": "we believe that the observed decline in Company performance may represent a Company Material Adverse Effect as defined in the merger agreement, the occurrence of which could give you legal grounds to terminate the deal.",
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      "kind": "image",
      "text": "Spruce Point Capital Management",
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      "kind": "list",
      "text": "1. Revenue contraction suggests fundamental business issues visible before pandemic/deal. 2. Failure to disclose projections calls credibility into question. 3. Restructuring and credit facility draw-down suggest potential covenant violation.",
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      "kind": "paragraph",
      "text": "Spruce Point Capital Management 1740 Broadway – 15th Floor New York, NY 10019 212-579-1176",
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      "kind": "title",
      "text": "From these observations, we arrive at three deeply worrying conclusions:",
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      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
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      "evidence": "Spruce Point exposes contradictions in Forescout management's statements and actions.",
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      "name": "The Reveal",
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      "evidence": "The deck presents a series of revelations about Forescout management's actions and statements.",
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