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  "documentTitle": "C3.ai, Inc. (AI)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-02-16 00:00:00",
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  "notes": "The slide uses a 'Warning' callout to establish a pattern of behavior by the CEO, referencing a specific SEC case.",
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      "text": "Spruce Point believes investors should be concerned by various claims made by C3 and its management that appear to be exaggerated, or don't reconcile with our research findings.",
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      "text": "The Commission's Order finds that, on November 5, 2001, the company's Chief Executive Officer disclosed material, nonpublic information... that contrasted with negative statements that he had made about the company's business in a public conference call three weeks earlier.",
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      "text": "The Commission's Order finds that, on November 5, 2001, the company's Chief Executive Officer disclosed material, nonpublic information to the attendees of an invitation-only technology conference in California. At the conference, the company's CEO made positive comments about the company's business that were based on material, nonpublic information and that contrasted with negative statements that he had made about the company's business in a public conference call three weeks earlier. — SEC v. Siebel Systems, Inc",
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      "text": "Source: SEC v. Siebel Systems, Inc",
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      "text": "Comparison table of 7 concerns, C3 statements, and Spruce Point findings.",
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      "text": "Spruce Point Questions C3's Pattern of Exaggerated / Irreconcilable Claims",
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