Topic
SPACs
324 published works
The CLS Blue Sky Blog
SPACtivism
By Sharon Hannes, Adi Libson, Gideon Parchomovsky
SPACs are on fire. Scholars and commentators have pointed out the flaws of SPACs, including the various agency problems they generate (Klausner 2021), and their utilization by sophisticated investors to…
Free Writings + Perspectives
Electric Vehicle Company Settles SEC Case
By Gonzalo Go, Danielle Marino
In another special purpose acquisition company (“SPAC”) related enforcement action, on December 21, 2021, the US Securities and Exchange Commission (“SEC”) issued an order instituting cease-and-desist proceedings (“Order”) against a…
Cleary M&A and Corporate Governance Watch
Delaware Chancery Court Allows SPAC Merger Challenge to Proceed
In one of the first opinions addressing fiduciary duty claims in the context of a transaction involving a special purpose acquisition company (“SPAC”), the Delaware Court of Chancery determined that…
China Law Update Blog
Hong Kong Stock Exchange Announced New Listing Regime for SPAC
By Minjie Lu*
On December 17, 2021, the Stock Exchange of Hong Kong Limited (the Exchange) announced new listing regime for special purpose acquisition companies (SPAC). These new rules will take effect on…
The D&O Diary
And Again: Another Post-SPAC Merger EV Company Hit with Securities Suit
As I have noted on this site (most recently here), electric vehicle companies that have merged with publicly traded SPACs have become a favored target for plaintiffs’ securities lawyers. In…
The D&O Diary
SPAC-Related Securities Suit Filed Against Space Gear Company
In the latest example of the kind of SPAC-related litigation that has been such a big part of the securities class action litigation filings this year, space infrastructure company Redwire…
Corporate Defense and Disputes
Gensler Speaks Out on SPACs, Notes Similarities with Traditional IPOs and Hints at Future SEC Action
SEC Chair Gary Gensler made news again last week with a series of statements regarding SPACs, noting their similarities with traditional IPOs and hinting at future regulatory action aimed at…
The CLS Blue Sky Blog
SEC Chair Gensler Speaks on the Risks of SPACs
By Gary Gensler
Thank you for the kind introduction, Ty [Gellasch]. It’s great to be with the Healthy Markets Association. As is customary, I’d like to note that my views are my own,…
The CLS Blue Sky Blog
The SPACtacular Rise of the Special Purpose Acquisition Company: A Retail Investor’s Worst Nightmare
The special purpose acquisition company, or SPAC, is a company with no commercial or operating history that has listed on a stock exchange with the sole objective of raising financing…
The D&O Diary
Post-SPAC-Merger Fintech Company Hit with Securities Suit
In just a few days, when the time comes to tot up the 2021 securities class action lawsuit filings and to mark out the key 2021 filing trends, one of…