News & Analysis as of October 18, 2024

Publicly-Traded Companies

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

Nutter Securities Enforcement Update: March 1, 2024

Nutter McClennen & Fish LLP on 4/5/2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Watts What You Say? SEC Brings a Battery of Charges Against EV Startup Company

Holland & Knight LLP on 3/13/2024

The SEC on Feb. 29, 2024, announced settled charges against Lordstown Motors Corp. (Lordstown) for allegedly misleading investors about sales prospects for the Endurance, Lordstown's flagship pickup truck for the electric...more

Nutter Securities Enforcement Update: January 1, 2024

Nutter McClennen & Fish LLP on 1/17/2024

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Smackdown in SPAC Town: SEC Penalizes Pair of Auditors and PCAOB Tags In

Holland & Knight LLP on 9/28/2023

The SEC did not take time off for the summer when it comes to enforcement activity involving auditors of special purpose acquisition companies (known as SPACs and addressed by us previously). While others may have been...more

Choppy Market for SPACs and PIPEs, Competition for Targets Spurs Deal Innovations

Skadden, Arps, Slate, Meagher & Flom LLP on 2/4/2022

Takeaways - While the SPAC IPO and PIPE markets were challenging in 2021, the enormous amounts of capital already raised should drive merger activity in 2022. As more shareholders choose to redeem shares and potential...more

Company Acquired By SPAC Agrees To Pay $125 Million To Settle SEC Probe Months After CEO Was Charged With Fraud

A&O Shearman on 1/11/2022

On December 21, 2021, the Securities and Exchange Commission (SEC) announced that Nikola Corporation—a publicly traded company that develops, manufactures, and sells electric trucks—had agreed to a $125 million settlement...more

SPACs Stand or Fall on Their Disclosures

Hicks Johnson on 5/26/2021

The special purpose acquisition company (SPAC) boom has hit a major roadblock in the form of faulty disclosures. The recent deluge of SPAC litigation has mainly focused on these disclosures—specifically, disclosures made...more

Underperforming SPAC Still Subject to Federal Claims in Securities Class Action

Proskauer - Corporate Defense and Disputes on 5/17/2021

If 2020 was the “Year of the SPAC,” 2021 may be turning into the year of the SPAC class action. We have already followed numerous cases where recently formed SPACs have been challenged in federal court for alleged violations...more

The Ripples Behind the SPAC Wave

Proskauer - The Capital Commitment on 3/25/2021

The past year saw a burst in popularity of SPACs. More than half of companies that went public in 2020 did so using a SPAC on their way to raising over $80 billion in proceeds, and so far in 2021 SPAC offerings far outpace...more

SPACs Explained, in Five Minutes or Less

Proskauer - Corporate Defense and Disputes on 2/11/2021

In the financial world, 2020 was the year of the SPAC. During the past few years, many Silicon Valley start-ups were chomping at the bit to get listed and cash out via initial public offering (IPO). And in 2020, over half of...more

Financial Projections in SPAC Transactions: Mitigating Class Action Litigation Risk

Fenwick & West LLP on 10/13/2020

Special purpose acquisition companies (SPACs) are increasingly being used as an alternate vehicle to traditional initial public offerings. Companies that go public through a traditional IPO process are often subject to...more

SEC Adopts Final Rules to Allow Exchange Act Reporting Companies to Use Regulation A

Skadden, Arps, Slate, Meagher & Flom LLP on 12/21/2018

The Securities and Exchange Commission (SEC) adopted final rules to allow reporting companies to rely on the Regulation A exemption to conduct securities offerings of up to $50 million in a 12-month period without Securities...more

Favorable Market Conditions Lead to Renewed Interest in SPACs

White and Williams LLP on 8/2/2018

Special purpose acquisition companies (SPACs) have experienced a renewed popularity over the past couple of years due to favorable capital markets conditions. A SPAC is a publicly traded acquisition and investment vehicle...more

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Securities Exchange Act › Special Purpose Acquisition Companies (SPACs) › Publicly-Traded Companies

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