Herbalife's recently filed 10-K cover page reports 87.4 million shares outstanding, of which only 22.7 million were held by non-affiliates as of June 30, 2017.
Resolved true The record shows it happened or was so.
Factual: Statements about the present or the past, checked against the record: did they hold up?
The second judge said mostly true; the verdict shown is the first judge's.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Judge against the cover page of the most recent Herbalife 10-K at the time of the 2018 statement (FY2017, filed early 2018). True: the cover page reports about 87.4 million shares outstanding, and the non-affiliate figure as of June 30, 2017 corresponds to about 22.7 million shares (either stated directly or as an aggregate market value that implies that number). Mostly true: both numbers are within about 2% of the stated figures, or the shares-outstanding count is as of a different date shown on the same cover page. Mixed: one of the two figures matches and the other is materially off. Mostly false: the figures exist but are misread, e.g., the non-affiliate figure is a dollar value that implies a materially different share count. False: neither figure appears or can be derived from the cover page.
Set before the research began.
Evidence (1)
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E1 hlf-10k_20171231.htm (Herbalife Ltd. Form 10-K for fiscal year ended December 31, 2017) U.S. Securities and Exchange Commission (EDGAR), filed by Herbalife Ltd.
“There were 87,419,647 common shares outstanding as of February 15, 2018. The aggregate market value of the Registrant’s common shares held by non-affiliates was approximately $1,620 million as of June 30, 2017, based upon the last reported sales price on the New York Stock Exchange on that date of $71.33.”
Reasoning
The cover page of Herbalife's 10-K for fiscal 2017 [E1] reports 87,419,647 common shares outstanding as of February 15, 2018, which matches the 87.4 million in the claim. It puts the market value of shares held by non-affiliates at about $1,620 million as of June 30, 2017, at a price of $71.33. Dividing those two figures gives about 22.7 million shares, which matches the claimed non-affiliate count. The cover page states about 87.4 million shares outstanding directly and gives the non-affiliate holding as a market value (about $1,620 million at $71.33 per share) that implies about 22.7 million shares, so the claim meets the 'true' test [E1]. The share count is dated February 2018, but the claim gives the June 30, 2017 date only for the non-affiliate figure.
Cite this claim
Bill Ackman, “Herbalife's recently filed 10-K cover page reports 87.4 million shares outstanding, of which only 22.7 million were held by non-affiliates as of June 30, 2017.” (said 2018). Verdict: resolved true. Reliability API, claim c_7443ba846e70, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_7443ba846e70
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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Verdicts are made automatically; how verdicts are made.