{
  "docId": "019dd923-622c-750b-8b99-8a089025bb07",
  "docSlug": "75aa3b2bd0fb",
  "documentTitle": "Floor & Decor Holdings, Inc. (FND)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-07-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 21,
  "pageCount": 125,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "Uses a red box to highlight the false claim in the company bio and a red box to highlight the 'Lapsed' status in the verification record.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "paragraph",
    "screenshot"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-8a089025bb07/21",
  "deckHref": "/decks/019dd923-622c-750b-8b99-8a089025bb07",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-8a089025bb07.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-8a089025bb07#slide-21",
  "components": [
    {
      "bbox": {
        "h": 0.04,
        "w": 0.47,
        "x": 0.5,
        "y": 0.66
      },
      "kind": "callout",
      "text": "CPA Verify On Langley",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22916486-bfad-4e7d-a77b-a30837d7f441",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.47,
        "x": 0.5,
        "y": 0.28
      },
      "kind": "callout",
      "text": "Georgia Code On CPA Use",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5720b404-5745-4230-a57d-bb0f43ad1543",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.03,
        "y": 0.28
      },
      "kind": "callout",
      "text": "CFO Langely Represents Himself To Be A CPA",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9534350f-73e4-4315-a0a8-30c093a3bd2d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Mr. Langely's license expired at the end of 2019 according to a public record search and it is no longer valid.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1d-76e6-8710-2deab8ab8b2d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.45,
        "x": 0.03,
        "y": 0.45
      },
      "kind": "paragraph",
      "text": "Bryan H. Langley is our Executive Vice President and Chief Financial Officer... Mr. Langley is also a Certified Public Accountant.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "359496eb-3b38-4a93-a98d-2402686e194c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.47,
        "x": 0.5,
        "y": 0.33
      },
      "kind": "paragraph",
      "text": "2022 Georgia Code Title 43 - Professions and Businesses Chapter 3 - Accountants § 43-3-31. Prohibited Use of Title or Designation; False or Deceptive Practices",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b3d8ab16-02f6-45b2-b00d-438518ae28fb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.96,
        "x": 0.02,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Like President Lang, CFO Langley also holds himself out to the public as a CPA. The Georgia Code references prohibited use of claiming to be a CPA as a false or deceptive practice unless the individual “holds a license”. Mr. Langely’s license expired at the end of 2019 according to a public record search and it is no longer valid.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c863a88b-8602-4206-9ac9-10294376be4a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.01,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Georgia Code, CPAverify, FND website, red underline emphasis by Spruce Point",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "059a798a-4e05-4490-b0cb-4f5cc7470279",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.47,
        "x": 0.5,
        "y": 0.7
      },
      "kind": "table",
      "text": "NAME: BRYAN HEATH LANGLEY; STATE OF LICENSE: GA; License/Permit/Certificate Status: LAPSED; License Type: CERTIFIED PUBLIC ACCOUNTANT; Expiration Date: 2019-12-31",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "865335da-37f0-4f98-851b-679f3c1cbef6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.65,
        "x": 0.31,
        "y": 0.05
      },
      "kind": "title",
      "text": "CFO Langley Is Not A Licensed CPA As Claimed",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5fa694d4-0c70-43b5-b214-955fc113fb4a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "7cd9a24b-6bde-41c4-af2d-e0c6d08c1907",
      "evidence": "Exposing a false claim of professional licensure to undermine credibility.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 50,
      "from": 11,
      "beatId": "76a4e412-fb9a-444b-a02d-2e883401f4a8",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The document presents a detailed analysis of FND's struggles and challenges",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 30,
      "from": 20,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "19f70dc3-3104-43e5-b429-58e639aef842",
      "evidence": "The document presents a clear warning about the potential consequences of ignoring the risks associated with FND",
      "position": 0,
      "objective": "Highlight the risks of not taking action on FND's stock",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}