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  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
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  "pageNumber": 11,
  "pageCount": 334,
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  "notes": "Uses the 'CEO departure' as a signal for potential fraud.",
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      "text": "In one major corporate fraud after another, we see the CEO and/or CFO depart when the scheme becomes too big to sustain.",
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      "text": "The longtime CEO Osamu Okabayashi abruptly announced his resignation a few weeks ago, having run the company for the last 15 years, on the same day as earnings with the stock near all-time highs – typically an ominous sign and one of our most reliable indica that the end is near. In one major corporate fraud after another, we see the CEO and/or CFO depart when the scheme becomes too big to sustain. Investors may recall the surprise departure of the CEO of Enron – one of the largest frauds in US history – a few months before its collapse and bankruptcy, baffling unsuspecting investors at the time. Okabayashi provided no explanation for the unexpected timing. The stock jumped anyway despite the news, given investor complacency and speculative fervor.",
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      "kind": "source-note",
      "text": "Source: https://online.nikkei-cnbc.co.jp/vod/36201; ; https://online.nikkei-cnbc.co.jp/vod/31219",
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      "kind": "title",
      "text": "Lasertec outgoing CEO on Nikkei CNBC",
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