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  "documentTitle": "Rollins Inc. (ROL)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-10-04 00:00:00",
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      "text": "Spruce Point is troubled by Rollins Lead Independent Director Jerry Nix. His biography indicates he was the CFO of Genuine Parts Company (NYSE: GPC) from 2000-2013. Ahead of his departure, the Company exposed a cumulatively material misinterpretation of accounting for sales returns that affected net income and required a financial restatement. Mr. Nix’s biography fails to disclose that he was also the Chief Accounting Officer at GPC responsible for the application of its accounting policies. He was initially appointed to Rollins’ audit committee.",
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      "text": "Jerry W. Nix",
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      "text": "Customer Sales Returns... Subsequent to September 30, 2012, the Company reconsidered its interpretation of the authoritative literature related to accounting for potential sales returns...",
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      "text": "Jerry W. Nix... Former Vice Chairman, Executive Vice President and Chief Financial Officer of Genuine Parts Company... Mr. Nix retired from Genuine Parts Company in 2013, where he served as Vice Chairman from 2005 to 2013, Chief Financial Officer from 2000 to 2013...",
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      "text": "Sources: Nix Biography on Rollins Website GPC 2012 10-K",
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      "text": "/s/ Jerry W. Nix... Vice Chairman and Chief Financial and Accounting Officer",
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      "text": "Independent Director Nix Was Also The CAO At GPC Where A Troubling Financial Restatement Occurred",
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