NSCPCurrents SEPTEMBER 2020 The Show, er, um, Article About Nothing (other than SEC, CFTC, FINRA, and State Securities Enforcement Actions in August 2020) By Brian Rubin and Alexa Shockley About the Authors: Brian Rubin is a partner at Eversheds Sutherland. He can be reached at
[email protected]. Alexa Shockley is an associate at Eversheds Sutherland. She can be reached at
[email protected]. 1 SEPTEMBER 2020 NSCP CURRENTS 1 SEPTEMBER 2020 NSCP CURRENTS Jerry: So what’s the deal with this article? You’re telling me that Seinfeld, a show about nothing, was really about securities? Elaine: Get out! Kramer: Giddy-up! Jackie Chiles (the most prominent attorney on Seinfeld) (which isn’t saying much): What Mr. Seinfeld and Ms. Benes are saying, with the able assistance of Mr. Kramer, is this: If you watch this super, stellar, stupendous show with care and calculated calibration, but not with callousness, you too will see that reality. Indeed, in fact, indubitably, Ms. Benes will provide an example. Elaine: See, there was one episode called, “The Stock Tip,” and, yada yada yada, Jerry loses his investment, but George makes a killing. Crazy, right? George: Worlds are colliding! Jerry: Yeah, I guess you could say that.1 Everyone knows that Seinfeld, which premiered 31 summers ago, was one of the most popular television sitcoms ever. It was on the airwaves (remember those?) for nine years, nominated for 68 Emmy Awards, winning ten times, including twice for Outstanding Writing in a Comedy Series, winning twice.2 It was self-identified as a “show about nothing.”3 Indeed, co-creator Larry David “admonished the writing staff that there would be ‘no hugging, no learning’ in the scripts, and there wasn’t.