Topic
SPACs
324 published works
Down the Wire
London Readies for SPACs
The Financial Conduct Authority has published its final changes to the Listing Rules in order to encourage SPACs (special purpose acquisition companies) to list on the London Stock Exchange. The…
The CLS Blue Sky Blog
Sullivan & Cromwell Discusses SPACs in the UK
On July 27, 2021 the FCA published a policy statement setting out its planned amendments to the Listing Rules to remove the presumption of suspension that applies to special purpose…
Journal of Business & Intellectual Property Law
The Comeback of SPACs: Wall Street’s Hottest Investment Vehicle and its Potential Liability Risks
By Journal of Business & Intellectual Property Law at WFU
By: Charles Jenkins Special Purpose Acquisition Companies (“SPACs”) have become one of Wall Street’s most favored investment vehicles. In the first half of 2021, there has already been an unprecedented…
Cleary Enforcement Watch
DOJ Indicts Founder of Nikola for Allegedly Defrauding Retail SPAC Investors
By Jonathan S. Kolodner, Rahul Mukhi, Jared Gerber, JD Colavecchio
On July 29, 2021, the U.S. Attorney’s Office for the Southern District of New York unsealed a securities and wire fraud indictment against Trevor Milton, the founder and one-time chairman…
Corporate Defense and Disputes
FINRA Lives Up To Its Name, Announces Regulatory Inquiries into SPACs
While 2021 has been exceptionally lucrative for SPAC sponsors – even more so than 2020’s “Year of the SPAC” – U.S. regulators appear emphatic that 2021 be the year of…
New York Venture Hub
“Do Your Homework!”: SEC Order Sends Strong Message to SPAC Participants on Due Diligence
The Securities and Exchange Commission announced on July 13, 2021 that it settled fraud charges against a special purpose acquisition company, its sponsor, its sponsor’s CEO and its proposed merger…
Free Writings + Perspectives
The SEC Pursues Action Against SPAC and Insiders for Misleading Investors
On July 13, 2021, the US Securities and Exchange Commission (“SEC”) announced charges against a special purpose acquisition company (“SPAC”), the proposed merger target company in the space transportation industry,…
Global Financial Regulatory Blog
ESMA Publishes Guidance on SPACs
ESMA warns against investor protection risks and provides guidance on expected disclosures. By Nicola Higgs, Chris Horton, James Inness, Rob Moulton, Oliver Seiler, Isabella Porchia, and Charlotte Collins On 15…
Cleary M&A and Corporate Governance Watch
SEC Brings SPAC Enforcement Action and Signals More to Come
By Nick Grabar, Rahul Mukhi, Jared Gerber, JD Colavecchio, Julian Cardona
On July 13, 2021, the Securities and Exchange Commission (“SEC”) announced a major enforcement action related to a proposed merger between a special purpose acquisition company (“SPAC”) and a privately…
Enforcement Highlights
SPAC Attack: The SEC Charges a SPAC for Failure to Launch
By Jim Lundy
On July 13, 2021, the SEC announced charges against Stable Road Acquisition Company (“Stable Road”), its sponsor, SRC-NI, its CEO, Brian Kabot, Stable Road’s proposed merger target Momentus Inc.(“Momentus”), and…