{
  "docId": "019dd923-622c-750b-8b9b-74abb4a757e7",
  "docSlug": "886ebab3088d",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-12-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 181,
  "pageCount": 334,
  "prevPage": 180,
  "nextPage": 182,
  "slideType": "cite_precedent",
  "function": "cite_precedent",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The slide uses a legal excerpt to support the argument that failing to disclose the percentage of participants who earn nothing is a deceptive practice.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "footnote",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-74abb4a757e7/181",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7#slide-181",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.9,
        "x": 0.05,
        "y": 0.21
      },
      "kind": "callout",
      "text": "The FTC believes the exclusion of zero-earning distributors is relevant to a determination that an MLM is a pyramid scheme",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4bab0be4-89f3-44fe-8e94-a59853761b0c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.9,
        "x": 0.05,
        "y": 0.48
      },
      "kind": "paragraph",
      "text": "A. Failing to disclose, clearly and conspicuously, before any consumer becomes a Marketing Program participant, all information material to a consumer's decision to participate in the Marketing Program, including but not limited to the following: (1) The number and percentage of current Marketing Program participants who have not received any commissions, bonuses or overrides;",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0f03355f-2115-4224-88d0-ea5d3403526a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "A. Failing to disclose, clearly and conspicuously, before any consumer becomes a Marketing Program participant, all information material to a consumer's decision to participate in the Marketing Program, including but not limited to the following: (1) The number and percentage of current Marketing Program participants who have not received any commissions, bonuses or overrides; — FTC v. Trek Alliance, No. 02-9270 (C.D. Cal. June 24, 2003).",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-1ac1-76e9-bcc7-0fcec3c70c9e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.05,
        "y": 0.38
      },
      "kind": "source-note",
      "text": "Source: FTC v. Trek Alliance, No. 02-9270 (C.D. Cal. June 24, 2003).",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6e3ef204-81f5-4dac-98fe-4feeec4d7cf5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "93% of Distributors Excluded from the Table (Cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aa7a3e01-7817-4b19-b665-b774211aaab0",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "7811b4b9-66dc-403e-b453-17748787283b",
      "evidence": "Citing FTC v. Trek Alliance to support the argument.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}