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  "documentTitle": "Herbalife, Ltd. (HLF)",
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  "authorName": "William Ackman",
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  "presentationDate": "2012-12-20 00:00:00",
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  "notes": "The slide uses a legal deposition as evidence to support the claim of lax enforcement.",
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      "text": "Deposition of Jacqueline Miller in Herbalife v. Ford (2009): Mr. Stephens: (Ford Counsel) “How did you know about the 1200 [audits performed for the ten customer rule]?” Ms. Miller: (Herbalife Employee) “I asked.” Mr. Stephens: “Who did you ask?” Ms. Miller: “Julie Delaney... She works for Jenny [Heinrich]... She’s director or senior director. She’s been in the refunds and repurchase area, and I think she might have responsibility for the audits.”",
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      "text": "Distributors seeking to return product to the Company who cannot demonstrate compliance with the rules will have their previous rewards payments netted against their product return. In many cases, this “clawback” is greater than the returned value of the products",
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      "text": "Herbalife appears to audit compliance only when distributors seek to return product to the company",
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      "text": "Distributors seeking to return product to the Company who cannot demonstrate compliance with the rules will have their previous rewards payments netted against their product return. In many cases, this “clawback” is greater than the returned value of the products",
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      "text": "“How did you know about the 1200 [audits performed for the ten customer rule]?” “I asked.” “Who did you ask?” “Julie Delaney... She works for Jenny [Heinrich]... She’s director or senior director. She’s been in the refunds and repurchase area, and I think she might have responsibility for the audits.” — Deposition of Jacqueline Miller in Herbalife v. Ford (2009)",
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      "text": "Herbalife's Lax Enforcement of Its Rules (cont'd)",
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