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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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  "notes": "Uses a simple causal flow diagram to show the violation of a specific legal article.",
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      "kind": "callout",
      "text": "PARTICIPANTS ACCUMULATING VOLUME POINTS BY RECRUITING OTHER PARTICIPANTS WHO THEN ORDER PRODUCTS",
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      "kind": "callout",
      "text": "Direct Sales Regulations: Only \"[a] direct selling company and its branches may recruit sales promoters,\" and \"[n]o entity or individual outside any direct selling company and its branches may recruit any sales promoter.\" (Art. 13.)",
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      "text": "VIOLATES",
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      "text": "Direct Sales Regulations: Only \"[a] direct selling company and its branches may recruit sales promoters,\" and \"[n]o entity or individual outside any direct selling company and its branches may recruit any sales promoter.\" (Art. 13.) — Direct Sales Regulations",
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      "kind": "title",
      "text": "Permitting Participants to Recruit New Participants Violates Chinese Law",
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