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  "docSlug": "f982379e2e48",
  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
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  "pageNumber": 102,
  "pageCount": 334,
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  "notes": "The slide uses a strong accusatory tone to frame the company's technology as a failure.",
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      "bbox": null,
      "kind": "callout",
      "text": "Shockingly, it has a $23B market cap as an EUV story but lacks an EUV technology that actually works.",
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      "text": "3. The origin of the accounting fraud: Lasertec’s flagship ACTIS actinic EUV mask inspection system is defective with a fatally flawed EUV light source – the core of any EUV system – in addition to insurmountable problems with other key components like the optics and mask stage. Shockingly, it has a $23B market cap as an EUV story but lacks an EUV technology that actually works.",
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      "evidence": "The slide explicitly labels the company's situation as an 'accounting fraud' and critiques the core technology.",
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