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  "documentTitle": "Herbalife, Ltd. (HLF)",
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  "authorName": "Pershing Square Capital Management, L.P.",
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  "presentationDate": "2017-05-11 00:00:00",
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  "notes": "The slide uses bolding to emphasize the shift in compensation methodology for independent service providers in China.",
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      "kind": "paragraph",
      "text": "Note: Emphasis added. Source: Herbalife 2016 Form 10-K, Q1'2017 Form 10-Q.",
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      "text": "In China, our independent service providers are compensated for marketing, sales support, and other services instead of the distributor allowances and royalty overrides utilized in our global marketing plan. The service hours and related fees eligible to be earned by and then paid to independent service providers are based on a number of factors including the sales generated by them and by others to whom they may provide marketing, sales support and other services, the quality of their service and other factors as well as any potential future sales generated from the recently announced and expanded online ordering platform. Total compensation available to our independent service providers in China can generally be comparable to the total compensation available to other sales leaders globally. — Herbalife Q1'2017 Form 10-Q",
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      "text": "2016 Form 10-K vs Q1'2017 Form 10-Q comparison",
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      "text": "Revised 10-Q Disclosure Regarding China Raises New Red Flags (cont'd)",
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