Family Dollar expects to complete its $750 million buyback by fall 2011.

Judged as of 2011-06-06 as a statement of the company's expectation. True if Family Dollar had then announced a roughly $750 million share repurchase and stated, or communicated to Ackman/investors, an expectation of completing it by fall 2011. Mostly true if the size or timing in the company's statement differed slightly (for example 'by end of fiscal year' in late summer 2011). Mixed if the buyback existed but the company gave no timing or a materially different one. Mostly false if the buyback amount was materially different or the expectation was of a later completion. False if no such buyback had been authorised.

Set before the research began.

1. E1 All in the family ira sohn conference.2011 Pershing Square Capital Management, L.P. (presentation hosted on SlideShare) · 25 May 2011 Own record

   “Share Repurchases & Dividends: Management has committed to buyback $750mm of shares by fall 2011”

2. E2 0001157523-11-001803.txt - SEC.gov U.S. Securities and Exchange Commission (Family Dollar Stores, Inc. Form 8-K with Exhibit 99.1) · 30 March 2011

   “As part of its previously announced $750 million share repurchase authorization, the Company repurchased 8.9 million shares at a total cost of approximately $408.0 million during the first half of fiscal 2011. As of February 26, 2011, the Company had authorization to purchase up to an additional $349.8 million of its common stock.”

3. E3 Family Dollar Turns Down Billionaire Nelson Peltz Forbes (Steve Schaefer) · 3 March 2011

   “In addition, our Board increased the quarterly dividend by 16% to $0.18 per share and approved a $750 million share repurchase program. As of March 2, 2011, the Company had repurchased $400 million of common stock.”

4. E4 Family Dollar (FDO) -- 3 Pros, 3 Cons InvestorPlace (Tom Taulli) · 1 June 2011

   “There is even a $750 million share repurchase program in place.”

5. E5 Form 8-K, Family Dollar Stores, Inc. (Exhibit 99.1: Family Dollar Reports Record Second Quarter Earnings) U.S. Securities and Exchange Commission (filed by Family Dollar Stores, Inc.) · 30 March 2011

   “As part of its previously announced $750 million share repurchase authorization, the Company repurchased 8.9 million shares at a total cost of approximately $408.0 million during the first half of fiscal 2011.”

6. E6 Family Dollar Turns Down Billionaire Nelson Peltz Forbes (Steve Schaefer) · 3 March 2011

   “In addition, our Board increased the quarterly dividend by 16% to $0.18 per share and approved a $750 million share repurchase program.”

7. E7 All in the family ira sohn conference.2011 SlideShare (repost of Pershing Square Capital Management presentation) · 25 May 2011 Own record

   “Management has committed to buyback $750mm of shares by fall 2011”

8. E8 fdo-20110528.xml U.S. Securities and Exchange Commission (Family Dollar Stores Inc. Form 10-Q for quarter ended May 28, 2011)

   “On September 29, 2010, the Company announced that the Board of Directors authorized the Company to purchase up to $750 million of the Company's outstanding common stock. The remaining amount under the previous authorization was cancelled. As of May 28, 2011, the Company had $245.3 million remaining under the new authorization.”

9. E9 Family Dollar-Ackman Pres-Ira Sohn Conf-5!25!11 Pershing Square Capital Management, L.P. (presentation hosted on Scribd) · 25 May 2011 Own record

   “Share Repurchases & Dividends: Management has committed to buyback $750mm of shares by fall 2011”

10. E10 Family Dollar Reports Record First Quarter Sales and Earnings Family Dollar Stores, Inc. (SEC Exhibit 99, via Business Wire) · 5 January 2012

    “As of November 26, 2011, the Company had the authorization to purchase up to an additional $309.9 million of its common stock.”

Family Dollar's own filings and independent press reports confirm a $750 million share repurchase authorisation, announced September 29, 2010. About $408.0 million had been repurchased in the first half of fiscal 2011, and $245.3 million remained as of May 28, 2011 (E2, E3, E8). None of these sources says the company expected to finish by fall 2011. The only support for that timing is Pershing Square's own Ira Sohn presentation (E1, E7, E9), which is the subject's own statement. The evidence therefore confirms the buyback but cannot show whether the company expected to complete it by fall 2011.