Callouts & quotes from 37,061+ activist slides

"We simply do not see how IIPR buying warehouses and empty land for outrageous mark-ups creates low risk yields over 14%."

"It is found that this address was actually occupied by a biotech company called Fuent Biotechnology (Shanghai) Co., Ltd."

"It is found that this address was actually occupied by a biotech company called Fuent Biotechnology (Shanghai) Co., Ltd."

"Di Ricco apparently had not been deterred by the criminal justice system. We find him right back in action with ADOMANI."

"At the Q2 2019 call, a sell-side analyst also noticed the lower than projected reagent revenue per system (utilization)."

"As shown above, none of these awards seem to pertain to anything related to DVLT’s AI, its Valor tokens, or its patents."

"In one major corporate fraud after another, we see the CEO and/or CFO depart when the scheme becomes too big to sustain."

"A Citigroup report published 3 weeks before this one, however, pegged EUV at 80% of sales by 2022 – 4X the UBS estimate."

"Lasertec could easily have licensed the Isteq technology prior to the ACTIS A150 launch in 2019 but chose Ushio instead."

"What is most important is the delivered cost of soda ash to end customers, which includes production and transportation."

"In March 2008, Scott Peters, then CEO, was quoted as saying that "This merger is for the next 50 years" — Grubb & Ellis."

"In April 2007, we leased the minerals under a certain area in Woods County, Oklahoma from TLW Land & Cattle — 2009 proxy"

"As Bernard Madoff reminds us, when an established institution commits fraud, the fraud can become stratospheric in size."

"The day after, my mother called up and said, "Udo, I don't believe you're a crook." I said, "Thanks a lot!" — Udo Müller"

""The Board's abdication of such an essential duty is indefensible and shameful." — Oplink Communications activist report"

"“The way she was talking, I thought she had already made a battery a meter square.” — Anonymous source in Quartz article"

"Illustrative rendering of a potential form-factor for rackmount QPU. Not a designed system. — IonQ Investor Presentation"

"Dye & Durham executives threaten to take investors to court in latest twist over battle for company — The Globe and Mail"

""Revenue increased by $217.3 million, or 106.5%, to $421.4 million for the year ended December 31, 2020..." — Prospectus"

"豊田自動織機の特別委員会は、18,600円という価格が不十分であることおよび、同社の保有する上場会社株式の価値の上昇の双方を認識した上で、トヨタ不動産に対して提案価格を「大幅に引き上げる」ことを要求しています。 — 豊田自動織機 特別委員会"

""USPS was not impressed by Samsara's proposed approach for meeting [the OBDI] requirement." — US Court of Federal Claims"

"Suspicion: Attorney Doron Levy Helped Dayan Brothers Launder Income of More Than 180 Million Euros (trans.) — The Marker"

"‘We wouldn't do that if the deal falls through,’ Burritt said in an interview. ‘I don't have the money.’ — David Burritt"

"We've always been committed to transparency and candor, and we're taking steps to align fully with those values. — Bunge"

"In 2011, the transferable securities consist of money market funds in Euros for EUR 89,235 K. — Eurofins 2012 AR (p. 88)"

"Kao claim that the skill profiles incumbent on the board are “best suited for the continued oversight of Kao’s strategy”"

"“these equity securities were subsequently sold in the second quarter of 2021.” — Pepsi 10-Q (April 15th, 2021, page 19)"

"“that’s why they have to stop using diazoxide...it can be devastating...that would be my worry.” — Trial investigator #6"

"“that’s why they have to stop using diazoxide...it can be devastating...that would be my worry.” — Trial investigator #6"

"there was a clear and direct correlation of pitolisant exposure with QTc prolongation — FDA Clinical Pharmacology Review"

"SEC Charges Sports Nutrition Company With Failing to Properly Disclose Perks for Executives — SEC Press Release 2015-179"

"YT claimed that he had “no direct or indirect ownership interest” in either of these companies. — Bankruptcy proceedings"

"“fraudulent conduct in connection with its Residential Mortgage-Backed Securities offerings.” — US Department of Justice"

"Improve GoDaddy's combination of growth and margins + Improve GoDaddy's capital allocation = Significant Value Creation"

"We estimate that Smart2Pay's net profit margins ballooned from 28.5% (pre-acquisition 2019) to 49.2% (post close 2020)."

"We believe the true "cash-on-cash" returns to equity holders on new stores fail to clear management's 20% return hurdle"

"Wall Street research analysts expect Pfizer's revenue to decline by 3% (9% increase excluding COVID) from 2023 to 2030."

"we view it as wholly unlikely that mass market education companies are able to generate gross margins in excess of 50%."

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"Voluntary attrition has more than doubled since 2020 from 4% to 9% and increased at all levels across the organization."

"We believe Generac’s peers are claiming more eyeballs and likes on social media based on followers and ad interactions."

"We believe there is a clear pattern of misreporting of acquisition revenue contribution by Generac between 2019 - 2021."

"Spruce Point warns that despite the CEO's bullish tone around Off Grid, we believe the deal has been a failure to date."

"There is a suspicious overlap of people between ABML and Comstock Mining (LODE), notably Scott Jolcover and Mark Vogel."

"Commvault is not executing against this paradigm and is delivering both exceedingly low margins and low revenue growth."

"Simply removing this voting obligation does not suddenly absolve the Board of its mistakes related to this transaction."

"As a first step, we believe there must be Board change at Box, including direct representation for common stockholders."

"Crown Castle is turning $1 of capex investment into 36¢ of market value. This is not a winning formula for shareholders"

"JANA Either Does Not Understand How to Value Assets in Our Sector or it is Intentionally Trying to Deceive Shareholders"

"JANA either does not understand how to value assets in our sector or it is intentionally trying to deceive shareholders"

"That is the automatic reaction of a CEO when an attack is launched and the share price goes down, that is quite normal."

"Mr. Müller: How much profit did Mr. Müller and Mr. Ströer make from the initial public offering? - Zero. Simple answer!"

"And while Mr. Big’s death was a big deal, Peloton was also left for dead post-pandemic as you saw from the stock price."

"Enhanced due diligence is necessary when a material part of a U.S. listed company's business is in China. Buyer beware."

"While ADP often cites its “service” as a key differentiator, most of this “service” is support for product deficiencies"

"ADP’s current structure is hurting ADP’s ability to execute in the marketplace while incentivizing sub-optimal outcomes"

"Canadian Tire must choose between increased financial exposure (more risk) or tarnishing the "Canadian Tire" reputation"

"Fuji will take control of Xerox and receive $120 million more in annual dividends from Xerox "without spending a penny""

"Redefining the Fuji Xerox relationship based on these realities will allow Xerox to potentially unlock tremendous value"

"Each of these multiples is still lower than the multiple of Xerox's industry leading peer HP Inc., which trades at 8.1x"