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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 to undermine the company's buyback policy claims.",
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      "text": "Distributors find Herbalife’s Inventory Repurchase conditions so restrictive that they don’t even bother to return product:",
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      "text": "Deposition of Bruce Roth (Former Distributor): At the time that we left Herbalife, we had leftover product that we had been forced to purchase to get our paycheck from Herbalife. For approximately the last seven (7) months we were in Herbalife (i.e mid-June 2006 to January 2007), we had to purchase approximately $7,500 in Herbalife product to be eligible to receive our monthly paycheck from Herbalife. When we left Herbalife, we had to throw out about $5,000 of useless Herbalife product. We did not ask Herbalife to repurchase this product because Herbalife’s buyback policy imposed too many restrictions.",
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      "text": "Herbalife International of America, Inc., v. Robert E. Ford and Julia A. Ford, Et, Al.,",
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