Scores by kind of claim
Each kind of claim is scored on its own, out of 100: the share that held up, with the range it likely falls in. Fewer resolved claims give a wider range.
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Factual claims
Statements about the present or the past, checked against the record: did they hold up?
76 70 81 -
Predictions
Statements about events outside the person's control, checked once they fell due: did they come true?
68 54 82 -
Promises
Commitments to the person's or organisation's own future action, with something to deliver: was it delivered?
Insufficient record: 3 promises resolved, 5 needed for a score.
All types combined: 74 (likely 69 to 80, high confidence), from 96 claims: 82 factual claims, 14 predictions. It mixes kinds of claim in different proportions for different people, so compare people kind by kind.
Bill Ackman's claims
“If we are successful in securing SPARC’s approval, and I am confident that we will get it done, we will have a clear path to mitigate the harm that this litigation has and will continue to cause to PSTH shareholders and warrant holders.”
Bill Ackman, PSTH CEO, in investor letter 19 August 2021 Pershing Square Holdings, Ltd. Provides Update to Investors (Pershing Square Holdings)
PSTH will secure SPARC's approval, giving a path to mitigate the harm the litigation causes shareholders and warrant holders.
Resolved true The record shows it happened or was so.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
'SPARC's approval' means the SEC declaring effective (or otherwise clearing) the registration of Pershing Square SPARC Holdings so that SPARC rights or warrants could be issued to PSTH shareholders and warrant holders. TRUE: the SEC approved or declared effective SPARC's registration, and SPARC rights were in fact distributed to PSTH's shareholders and warrant holders (current or former), giving them the planned avenue of compensation. MOSTLY TRUE: approval was obtained and rights were distributed, but only to part of the intended holders (for example shareholders but not warrant holders). MOSTLY FALSE: approval was obtained but the SPARC was never used to benefit PSTH holders (no distribution to them). FALSE: SEC approval was never obtained, or the SPARC plan was abandoned or blocked.
Evidence
- Pershing Square SPARC Holdings, Ltd. Announces Launch and SPAR Distribution Business Wire (issued by Pershing Square SPARC Holdings, Ltd.) · 29 September 2023 Own record
“Pershing Square SPARC Holdings, Ltd. (“SPARC”) today announced that the SEC has declared SPARC’s registration statement effective. SPARC will shortly be distributing special purpose acquisition rights (“SPARs”) at no cost to former securityholders of Pershing Square Tontine Holdings, Ltd. (“PSTH”).”
- EX-4.6 Pershing Square SPARC Holdings, Ltd. (SEC filing exhibit: Description of Securities) · 31 December 2023 Own record
“On September 30, 2023, we distributed our SPARs at no cost to the former holders of the Class A common stock of Pershing Square Tontine Holdings, Ltd. ("PSTH") and former holders of the distributable redeemable warrants of PSTH, based on ownership as of July 25, 2022,”
- Pershing Square SPARC Launch Raises Tax Questions - Akin Gump Akin Gump Strauss Hauer & Feld LLP · 24 January 2024
“distributed some 61 million subscription warrants after finally securing Securities and Exchange Commission (SEC) approval for its launch.”
- Cadwalader Guides Pershing Square SPARC Launch and SPAR Distribution Hogan Lovells Cadwalader · 3 October 2023 Own record
“Cadwalader represented Pershing Square SPARC Holdings, Ltd. (SPARC) in its successful launch following the SEC declaring SPARC’s registration statement effective, announced on September 29.”
Reasoning
An independent law-firm commentary (E3) reports that Pershing Square SPARC got SEC approval and distributed about 61 million subscription warrants. SPARC's own announcement (E1) says the SEC declared its registration statement effective. Its SEC filing exhibit (E2) records that on September 30, 2023, SPARs were distributed at no cost to former PSTH Class A shareholders and former PSTH distributable warrant holders. Approval was obtained and both groups of holders received rights, so the claim meets the TRUE criteria; the prediction had no deadline.
Cite this claim
Bill Ackman, “PSTH will secure SPARC's approval, giving a path to mitigate the harm the litigation causes shareholders and warrant holders.” (said 19 August 2021). Verdict: resolved true. Reliability API, claim c_c4e55d79c970, method 0.1.0+c876030c. https://epistacklabs.com/claims/c_c4e55d79c970
Claims without a verdict
- Unresolvable 135
- Not yet due 9
- Own records only 29
- Not researched 162
- Not checkable 431
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