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Elizabeth Gonzalez-Sussman Quoted in The Deal on Swaps Disclosure’s Unintended Impact on Insurgencies

January 13, 2022

Olshan partner Elizabeth Gonzalez-Sussman was recently quoted in The Deal (subscription required) regarding the SEC’s new proposed rules relating to equity based swaps. In the article, Elizabeth noted that many sophisticated activist clients are using cash-settled equity swaps as part of their investment strategies. She noted that according to the new proposed Schedule 10B, which could trigger disclosure earlier than a Schedule 13D filing, “all other investments, including common shares, puts and options, must be revealed as well”.  Elizabeth, however, concluded that while “it may make investors rethink how they are accumulating a large position, [ ] I don’t think it will disrupt activism all that much.”

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