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  "documentTitle": "FIGS, Inc. (FIGS)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-09-07 00:00:00",
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  "notes": "Uses legal document excerpts as primary evidence to support the activist thesis.",
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      "text": "The lawsuit between SPI and FIGS has been marked by contentious debate surrounding discovery. In the course of serving subpoenas to FIGS' purported seven Advisory Board members, SPI discovered that “two were never actually on the advisory board, two were ex-boyfriends of FIGS Co-CEO, and one was an elderly mother of a former employee.” We believe that, if true as alleged in the legal case, such misrepresentation is highly troubling.",
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      "text": "SPI Response to FIGS Discovery Objection Regarding Subpoenas (Document 156-2)",
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      "text": "Source: Strategic Partners, Inc. v. FIGS, Inc., et al., case no. 2:19-cv-02286-KSx document 156-2 Note: Red emphasis Spruce Point",
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      "text": "SPI Also Alleges That FIGS Misrepresented Who Was On Its Advisory Board in Investor Materials",
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