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  "documentTitle": "Remitly Global, Inc. (RELY)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-03-11 00:00:00",
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  "notes": "Uses a red arrow to visually connect Gail Miller's tenure at Remitly to the Shift4 restatement event.",
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      "text": "LinkedIn profile snippet for Gail Miller showing her roles at Remitly and Shift4 Payments.",
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      "text": "Shift4 Payments Financial Restatement text detailing the Audit Committee's conclusion regarding misclassification of customer acquisition costs.",
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      "text": "Spruce Point is troubled that Remitly has appointed four Chief Accounting Officers since its IPO in 2021. In May 2023, it hired Gail Miller as its Chief Accounting Officer (CAO). Her prior role was CAO at Shift4 Payments, Inc. (NYSE: FOUR). Miller's tenure at Shift4 was marked by a troubling financial restatement involving misclassification of customer acquisition costs. Mrs. Miller recently resigned effective Feb 28, 2025, just nine days after the 10-K was filed where we recently identified reporting anomalies. This followed CFO Munipalli who left effective August 19, 2024.",
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      "text": "Source: Miller LinkedIn, Shift4 Non-Reliance Statement, CFO Munipalli departure",
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      "text": "Recent Chief Accounting Officers table showing Susanna Morgan, Hemanth Munipalli, Gail Miller, and Luke Tavis with their respective tenures.",
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      "text": "Remitly's Recent Chief Accounting Officer Was Associated With A Cost Restatement",
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