Memento’s Public Letter to Sears Holdings

Olshan represents Memento in connection with its Sears investment.

In its letter, Memento expressed concerns regarding historical patterns of short-selling activity in the Company’s shares and to ensure the Board is taking whatever actions may be required to curb similar short-selling issues that may arise in the future. Memento, the investment management firm for the Spadone family in Switzerland, is seeking formation of an independent Equity Ownership Committee focusing on long term value creation for all shareholders, and recommends the Board consider strategic alternatives such as going private.

Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The company, led by Edward S Lampert, Robert A Riecker and Julie Ainsworth, in 2017 recorded $22 Billion Revenues.

Olshan is advising Memento S.A. with a team including Andrew Freedman (Picture), Mohammad M. Malik, Kyle C. Bisceglie, Adam H. Friedman and Adrienne Ward.

Involved fees earner: Andrew Freedman – Olshan Frome Wolosky LLP; Mohammad Malik – Olshan Frome Wolosky LLP; Kyle Bisceglie – Olshan Frome Wolosky LLP; Adam Friedman – Olshan Frome Wolosky LLP; Adrienne Ward – Olshan Frome Wolosky LLP;

Law Firms: Olshan Frome Wolosky LLP;

Clients: Memento SA;


Author: Ambrogio Visconti