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  "documentTitle": "Pershing Square | Activist Presentation Deck | 120 slides",
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  "authorName": "Pershing Square Capital Management, L.P.",
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  "presentationDate": "2014-07-01 00:00:00",
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  "pageNumber": 9,
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  "notes": "The slide uses legalistic language to frame the board's refusal to engage as a breach of duty.",
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      "kind": "paragraph",
      "text": "To date, Allergan's board has responded to Valeant's highly compelling and certain offer by refusing to engage with Valeant, refusing to meet with Pershing Square without management present, and by attacking Valeant's business model and management with claims unsupported by factual evidence",
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      "text": "Members of the board of directors of a Delaware corporation faced with a takeover bid are required to inform themselves of all material information about a transaction and then act with care in evaluating it. By failing to authorize the board's advisors to meet with Valeant to address any of the board's stated concerns about Valeant, the board and its advisors have failed to do any reasonable investigation of the Valeant transaction, depriving shareholders of the opportunity to consider this offer",
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      "kind": "title",
      "text": "A Special Meeting is Warranted Given Allergan's Record of Poor Corporate Governance",
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