Callouts & quotes from 3,960+ activist slides

"The Board’s settlement offer fell woefully short of the boardroom change we believed necessary"

"We believe the Student Transportation of America model is an ideal structure for FirstGroup US"

"We believe PepsiCo significantly overpaid for exposure to perhaps the riskiest emerging market"

"We Believe Archer Aviaiton, Inc (NASDAQ:ACHR) is a Lame Duck — Grizzly Research (Footnote 76)."

"We believe the Company should seek to improve R&D and innovation to improve growth prospects."

"We Believe FIGS Has Little Sustainable Competitive Advantage And Faces Increasing Competition"

"Spruce Point believes that FND investor expectations are wildly optimistic heading into 2025."

"Spruce Point believes that FND investor expectations are wildly optimistic heading into 2025."

"We believe all Unizo shareholders deserve clear and comprehensive answers to these questions."

"We believe this leads to a misunderstanding of the merits of owning Majorel relative to TASK."

"We Believe Only an Exaggerated Valuation Story For Intuit Can Justify the Current Stock Price"

"We believe the Company should seek to improve R&D and innovation to improve growth prospects."

"We believe that achieving ADP's structural potential will drive substantial shareholder value"

"We believe that this merger is a scam and that neither company expects it to actually happen."

"With the right leadership and strategy, we believe today’s challenges are readily addressable"

"We believe that this merger is a scam and that neither company expects it to actually happen."

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"We believe ABML is significantly behind the competition in commercial status and technology."

"We believe it is clear that Box was not focused on the best interests of common stockholders"

"We believe the logo should be the LAST change needed (if at all) to turn around Olive Garden"

"We believe the logo should be the LAST change needed (if at all) to turn around Olive Garden"

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"Spruce Point believes that WSP's Adj. EBITDA margin increase is purely an accounting mirage."

"Given today's drug pricing environment, we believe that CAR-T pricing will remain a headwind"

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"We believe GCP can improve margins by reallocating resources to more attractive geographies."

"We believe such actions result in reduced transparency and may foreshadow future challenges."

"We believe this was done just before year end 2023 to inflate Q4 and full year 2023 numbers."

"We believe the implementation of the Settlement Agreement will cause the pyramid to collapse"

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"Oasis believes the low board size limits the coverage of skills, diversity and independence."

"Oasis believes the low board size limits the coverage of skills, diversity and independence."

"Respondents believe the board lacks both accountability oversight and operational expertise."

"We believe the implementation of the Settlement Agreement will cause the pyramid to collapse"

"Unfortunately, we don’t believe Southwest is eager to meaningfully engage in such changes..."

"Spruce Point believes the market should consider RELY's 23m+ RSUs as part of the valuation."

"We believe the Company’s COVID breakthroughs were monumental to ending the global pandemic."

"We believe FIGS has a troubling history of exaggerating key financial and business metrics."

"We Believe ABML Overstates Its Market Opportunity And Has Made Numerous Questionable Claims"

"We believe Aquablation competes poorly with UroLift unless resective actions are indicated."

"We believe Darden employs numerous policies that add cost but deliver no value to customers"

"We believe large scale and global CROs will disproportionately benefit from industry growth"

"We believe Darden employs numerous policies that add cost but deliver no value to customers"

"Spruce Point believes analysts are overly promoting Xylem’s troubled acquisition of Evoqua."

"This leads us to believe that AMR is over-stating net income by under-reporting DTA losses."

"We believe large scale and global CROs will disproportionately benefit from industry growth"

"As Dropbox matures, we believe investors will increasingly focus on cash flow over revenue."

"We have long believed that Level 3 fair valuations are a license to print non-cash profits."

"We believe a standalone Bristol-Myers is better positioned to create value for shareholders"

"We believe that numerous initiatives exist for Bristol-Myers to further improve its margins"

"Pershing believes the best way to think about Pro Forma McDonald's is as a growing annuity."

"We believe Huntsman has attempted the same tactics intended to disenfranchise shareholders."

"Most industry observers believe that this reorganization should have occurred much earlier."

"We summarize our findings that lead us to believe that DV's premium multiple will contract:"

"We believe management could be using repurchases to hit bonus targets to reap rich payouts."

"We believe Nidec's inventory write-offs were largely unjustified for the following reasons:"

"We believe large scale and global CROs will disproportionately benefit from industry growth"

"Therefore, we believe that likely only ~34% of purchases attributed to APP are incremental."

"We believe the Company should prioritize improving its own performance over speculative M&A"

"We believe the Company’s COVID breakthroughs were monumental to ending the global pandemic."