Activist Partner Freedman Quoted in The Daily Deal on Schedule 13D and 13G Disclosures
Olshan Activist Practice Partner Andrew Freedman was quoted in The Daily Deal (subscription required) on SEC-related disclosures by activist investors. There has been much debate recently amongst practitioners as to when a 13G or 13D filing is required or appropriate, and in the article Freedman offered clarification, “A 13G filer can have discussions with the board and make suggestions…without crossing the line. Where we believe you draw the line is when those suggestions rise to the level of threats.” Freedman further defended the investor’s right to include more general disclosure in the Schedule 13D filing noting, “In many cases, insurgent investors at that point haven’t completed their due diligence and are still developing their plans and proposals. Once those are added they often come in the form of a letter to targeted companies attached to 13D filings.” The piece also mentions some of Olshan’s prominent activist clients, such as Starboard Value and H Partners.