Ign,
This could be what Blue is talking about;
Schedule 13D Filing Deadlines
The initial Schedule 13D is due within 10 calendar days of becoming a 5 percent or more beneficial holder.
Amendments to Schedule 13Ds must be filed “promptly” after a material change occurs to the facts submitted in the previously filed schedule. While the determination of what constitutes a “material” change is based on the facts and circumstances of the transaction, the SEC deems acquisitions or dispositions of beneficial ownership equal to 1 percent or more of the class of securities as “material.” In addition, while “promptly” has not been defined by the SEC and depends upon the facts and circumstances of the acquisition or disposition, in the case of a change of beneficial ownership equal to 1 percent or more of the class of securities the SEC has taken the position that “promptly” means “within 1 business day.” For all other instances, “promptly” is generally interpreted by practitioners as “within 10 days.” As with the original Schedule 13D filing, it is best practice to start preparing the amendment before the material change occurs to have ample time to complete the form.
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