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  "documentTitle": "Pershing Square | Activist Presentation Deck | 48 slides",
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  "notes": "Uses callouts to highlight specific quotes from the CEO that contradict the implications of the FTC settlement.",
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      "kind": "callout",
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      "kind": "callout",
      "text": "The terms of the settlement in no way change our business model as a direct selling company but simply build upon current procedures.",
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      "text": "http://www.herbalife.com/StrongerThanEver?cmp=M_US_EN_WBS_SummerPromotionHL_BTN_XXX_Stronger_20160715",
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      "kind": "paragraph",
      "text": "Stronger Than Ever. Michael O. Johnson. People might tell you that opportunity is limited... At Herbalife Nutrition, we disagree... The terms of the settlement in no way change our business model...",
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      "text": "The FTC settlement is an acknowledgment that our business model is sound and underscores our confidence in our ability to move forward successfully, otherwise we would not have agreed to these terms.",
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      "text": "Herbalife's Spin Machine",
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