Olshan corporate partners Kenneth Silverman and Honghui Yu authored an article in Bloomberg Law entitled “GameStop’s $3.5 Billion Windfall Shows Power of SEC Rule Mastery.” Their article highlights how public companies, with the right securities law strategies in place, can raise money quickly on the heels of viral news, with the rise in both retail investors and “influencer” investors. GameStop is a notable example of a public company that was able to raise billions of dollars through at-the-market offerings following a surge in the company’s stock price driven by viral social media posts. In total, GameStop has raised about $3.5 billion in gross proceeds. Ken and Honghui represented GameStop in its at-the-market offerings.
Olshan litigation partner John Moon and corporate partner Kenneth Silverman authored an article in Bloomberg Law entitled “SEC Enforcement Sweep Shows It Takes Reporting Failures Seriously.” In the article, John and Ken discuss the Securities and Exchange Commission’s (SEC) recent settlement with 11 institutional investment managers, highlighting a potential shift toward stricter enforcement of Form 13F violations. They explain the implications of these settlements for foreign and domestic investment managers, shedding light on the importance of compliance with U.S. reporting requirements, and emphasize the SEC's renewed focus on Forms 13F and 13H reporting obligations, which demand increased attention from large institutional investors operating in U.S. capital markets. They also highlight the SEC’s lenience towards those delinquent filers that self-reported their violations and cooperated with the SEC’s investigation. "Regardless where an investor and their broker-dealer are physically located, the SEC maintains jurisdiction if they invest in US capital markets," John and Ken note. They explain that the SEC’s cross-border enforcement sends a strong message to the international investment community to remain diligent about regulatory filings.