Overview (Program Summary)
A program hosted by:
ACC New York CitySpecial Purpose Acquisition Companies (SPACs) have been around for many years, but 2020 saw a resurgence in their popularity given the advantageous costs and efficiencies in comparison to traditional initial public offerings. The interest has only increased in 2021.
SPACs are drawing interest from a wide variety of investors, as well as securities plaintiffs who allege that there are often misaligned incentives between the sponsors who put up a SPAC’s initial capital and other investors. In addition, the SEC is signaling they plan to scrutinize SPACs, considering rules requiring better disclosure of the assumptions behind projections, conflicts of interest and shareholder dilution.
Our panel will discuss the specific issues and concerns of SPAC-related investments. They will also discuss the potential securities litigation that can arise at each stage of the SPAC life cycle – from the IPO to the de-SPAC transaction – as well as from issues arising from the post-transaction operating company.
