Callouts & quotes from 26,677+ activist slides

"If you're not doing anything unique or proprietary, then there's no reason to go with Perion."

"Organic operating performance has begun to deteriorate led by Herbalife’s most mature markets"

"The FTC findings confirm our long-held allegation that Herbalife operates as a pyramid scheme"

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

"RILY shares currently trade at a 110.4% premium to the average P/BV of its six closest comps."

"Astonishingly, Shanjing Kechuang’s revenues in 2018 were only 2.8% of what they were in 2015!"

"We do not see any signs of production activity going on and suspect it is an empty warehouse."

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

"We do not see any signs of production activity going on and suspect it is an empty warehouse."

"The $4B valuation that AGBA is putting on its merger with Triller is nothing short of absurd."

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

"Trustpilot is not a review platform. It’s a pay-to-protect extortion racket disguised as one."

"From FY17 - FY21, Bob Iger received $216mm(1) in total compensation despite Disney’s poor TSR"

"How do I know it’s not just a GPU sitting in a big fancy box with D-Wave written on the side?"

"DuPont's share price appreciation over the last two years has not been driven by fundamentals"

"This suggests that absolutely no testing or fine-tuning is meant to take place inside Fab 4A."

"It is a hodgepodge of specialty chemicals that did not go to Syensqo as part of the spin-off."

"There is Significant Overlap Between the Board, Management, and Legal Counsel of DSP and CEVA"

"ONP was improperly consolidating HBOP’s (misstated) assets and operations prior to that time."

"HLT's share price including dividends increased 55% in 2019 and is flat year-to-date in 2020"

"LOW’s share price including dividends increased 32% in 2019 and is flat year-to-date in 2020"

"Recent performance has shown weak top-line trends, with like-for-like sales down 5% for 2015"

"Our research indicates that Vets First Choice will have greater than 30% incremental margins"

"Unfortunately, Pfizer was unable to be successful with IBRANCE in early stage breast cancer."

"Translation of question: "List all tax preferences you enjoy." Translation of answer: "None""

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

"Various credible sources indicate that ecobee's market share has been in persistent decline."

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

"Prior to our involvement, Box consistently disappointed investors and failed to create value"

"Box built an oversized cash balance as a result of the unnecessary convertible debt offering"

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

"Box has chosen to not allow stockholders to vote on the more problematic evergreen provision"

"We have used a conservative 9.5% discount factor to apply to the unleveraged free cash flow."

"Private Practice Urologists Have Very Strong Financial and Other Incentives to Perform MISTs"

"Illustrative 2022 PF EPS under best-in-class management implies ~18% to ~48% earnings upside"

"Legal Representative Before Change: Wu Yonghua; Legal Representative After Change: Wu Zeqing"

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

"Brinker's situation was very similar to Darden – we see an even larger opportunity at Darden"

"Outsourcing prep in selected areas will reduce costs while improving quality and consistency"

"This vision MUST incorporate the importance of Italian authenticity throughout Olive Garden."

"A real estate separation is a key first step in solidifying Darden's investment grade rating"

"We find it surprising that no one caught and/or corrected the misspelling of the CEO's name."

"The fact that they did it in this very strange format that’s not industry-accepted is weird."

"The proposed transaction can be simplified into two key questions for the Board to consider:"

"It Takes Six Years Longer than EHTH's Stated Member Life to Collect Cash Equaling MA Revenue"

"Please do not be fooled by Huntsman’s many misleading, revisionist, and disingenuous claims!"

"Huntsman's EBITDA margins are ~400bps BELOW the average for 2021 and 2022 performance peers!"

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

"Brinker’s situation was very similar to Darden – we see an even larger opportunity at Darden"

"Outsourcing prep in selected areas will reduce costs while improving quality and consistency"

"Mr. Blum and Mr. Mock increased annual operating profits by hundreds of millions of dollars."

"This vision MUST incorporate the importance of Italian authenticity throughout Olive Garden."

"A real estate separation is a key first step in solidifying Darden's investment grade rating"

"We have a very good management team here. They have a long history of making good decisions."

"Southwest has the fundamental attributes necessary to restore its industry-leading position."

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

"The large oil frackers have spent $80 billion more than they have received from selling oil."

"Under Dr. Klaus Kleinfeld, Alcoa had among the worst shareholder returns of any U.S. company"

"The Firth Rixson failure alone might have been enough for the Board to dismiss Dr. Kleinfeld"

"Pro forma for divestitures, management's new target is for EBITDA/MT to decline by $35 (~9%)"