Social Media Disclaimer

Spruce Point Capital Management, LLC operates a Social Media accounts at and (the “Social Media Accounts”). Please read this legal disclaimer in full prior to reading any content on any of our our Social Media Accounts.

Nothing in the Social Media Accounts may be considered as an offer or solicitation to purchase or sell products or services, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction. The purpose of our Social Media Accounts is solely to share and discuss investment ideas for informational purposes only and should not be considered an individualized recommendation of any particular security, strategy, or investment product and should not be construed as investment, legal or tax advice.

Use of Spruce Point’s tweets, posts or communications (“Communications” or “Communicate”) referencing any publicly traded security is at your own risk. To the best of our ability and belief, as of the date hereof, all information contained herein is accurate and reliable and does not omit to state material facts necessary to make the statements herein not misleading, and all information has been obtained from public sources we believe to be accurate and reliable, and who are not insiders or connected persons of the stock covered herein or who may otherwise owe any fiduciary duty or duty of confidentiality to the issuer, or to any other person or entity that was breached by the transmission of information to Spruce Point Capital Management LLC. However, Spruce Point Capital Management LLC recognizes that there may be non-public information in the possession of companies we Communicate about.  Or other insiders of companies we Communicate about that has not been publicly disclosed by the underlying company. Therefore, such information contained herein is presented “as is,” without warranty of any kind – whether express or implied. Spruce Point Capital Management LLC makes no other representations, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use.

Clicking the Like button is not a testimonial for or endorsement of Spruce Point Capital Management or any of its representatives. This is the only mechanism we have to circulate our Twitter page. “Like” is not meant in the traditional sense. Visitor posts must refrain from recommending investment advisory services or providing testimonials or endorsement for spruce Point Capital Management LLC or its representatives. If you wish to convey an opinion to us, please send a message via our Contact Us page. In addition, no one commenting on this wall should post specific securities recommendations. Questions about a specific investment or adviser cannot be answered and may be removed from the page.

Prior to making any investment or hiring any investment manager you should consult with professional financial, legal and tax advisors to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment.

You should assume that as of the Communication date, Spruce Point Capital Management LLC (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our subscribers and clients has a short position in all stocks (and/or are long puts/short call options of the stock) covered herein, and therefore stand to realize significant gains in the event that the price of its stock declines. Following publication of any presentation, report or letter, we intend to continue transacting in the securities covered therein, and we may be long, short, or neutral at any time hereafter regardless of our initial recommendation.    All expressions of opinion are subject to change without notice, and Spruce Point does not undertake to update this Communication or any information contained herein.  Spruce Point Capital Management LLC, subscribers and/or consultants shall have no obligation to inform any investor or viewer of this Communication about their historical, current, and future trading activities.

Users of the Social Media Accounts (“Users”) shall not use the Social Media Accounts at any time for any purpose that is unlawful or prohibited and shall comply with any applicable local, state, national or international laws or regulations when using the Social Media Accounts.

Spruce Point Capital Management LLC and the terms, logos and marks included on the Social Media Accounts that identify Spruce Point Capital Management LLC services and products are proprietary materials. Copyright in the pages and in the screens of the Social Media Accounts, and in the information and material therein, is proprietary material owned by Spruce Point Capital Management LLC unless otherwise indicated.

If any provision in these Terms of Use is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

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