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  "docSlug": "f39479b88775",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-08-01 00:00:00",
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  "pageNumber": 37,
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  "notes": "Uses a simple causal flow diagram to link a business practice to legal violation.",
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      "kind": "callout",
      "text": "PAYING (100 RMB/~US$16) TO BECOME PREFERRED CUSTOMER",
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      "text": "VIOLATES",
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      "text": "Direct Sales Regulations: A direct selling company may not “have the fee-paying or commodities purchase serve[ ] as the conditions for becoming a sales promoter.” (Art. 14.)\nPyramid Sales Regulations: An organization may constitute a pyramid scheme if it requires recruits “to pay a certain fee for obtaining the qualification for participation.” (Art. 2.)",
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      "kind": "quote",
      "text": "Direct Sales Regulations: A direct selling company may not “have the fee-paying or commodities purchase serve[ ] as the conditions for becoming a sales promoter.” (Art. 14.) — Direct Sales Regulations; Pyramid Sales Regulations: An organization may constitute a pyramid scheme if it requires recruits “to pay a certain fee for obtaining the qualification for participation.” (Art. 2.) — Pyramid Sales Regulations",
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      "kind": "title",
      "text": "Requirements to Become a Preferred Customer Violate Chinese Law",
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      "evidence": "The presentation presents evidence of Herbalife's struggles to comply with Chinese law, including contradictions in their own documents.",
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