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  "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": 38,
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      "kind": "callout",
      "text": "PARTICIPANTS ORDERING PRODUCTS TO ACCUMULATE VOLUME POINTS",
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      "kind": "callout",
      "text": "A direct selling company may not \"have the . . . commodities purchase serve[] as the condition[] for becoming a sales promoter.\"",
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      "kind": "diagram",
      "text": "VIOLATES",
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      "kind": "list",
      "text": "Direct Sales Regulations: A direct selling company may not “have the . . . commodities purchase serve[] as the condition[] for becoming a sales promoter.” (Art. 14.)\nPyramid Sales Regulations: An organization may constitute a pyramid scheme if it requires participants to “purchas[e] commodities for obtaining the qualification for participating in pyramid selling . . . .” (Art. 7(2).)",
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      "kind": "quote",
      "text": "Direct Sales Regulations: A direct selling company may not \"have the . . . commodities purchase serve[] as the condition[] for becoming a sales promoter.\" (Art. 14.) — Chinese Direct Sales Regulations. Pyramid Sales Regulations: An organization may constitute a pyramid scheme if it requires participants to \"purchas[e] commodities for obtaining the qualification for participating in pyramid selling . . .\" (Art. 7(2).) — Chinese Pyramid Sales Regulations.",
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      "kind": "title",
      "text": "The Required Purchase of Products to Advance in the System Violates Chinese Law",
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      "arcName": "Overcoming the Monster",
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      "beatName": "The Struggle",
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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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