Page 9 - Multiplan Corp News Today

To embed, copy and paste the code into your website or blog: For the first time in several years, securities fraud cases declined in 2020, largely due to the pandemic. 1 However, we don’t expect this decrease to continue. Just three months into 2021, there are a number of issues trending in this practice area, including:  Securities litigation against non-U.S.-based issuers;   Securities and derivative litigation arising from SPACs and de-SPAC transactions;  Securities and derivative liti...

To embed, copy and paste the code into your website or blog: As the wave of SPAC IPOs and de-SPAC transactions continues to build, so too has the scrutiny of these transactions from the SEC and the shareholder plaintiff’s bar. On April 8, 2021, the SEC gave its clearest warning yet among a series of recent signals that it plans to intensify its review of de-SPAC transactions. Most recently, the SEC raised the possibility that statements in a de-SPAC transaction proxy statement fall within the...

To print this article, all you need is to be registered or login on Mondaq.com. Most of the recent shareholder litigation that has followed the current wave of Special Purpose Acquisition Company (SPAC) offerings and associated business combinations has been based on federal securities law claims. However, as a case filed in the Delaware Court of Chancery, Kwame Amo vs. MultiPlan Corp. et al., highlights, SPAC sponsors, directors and officers also face a risk of state ...

To embed, copy and paste the code into your website or blog: Most of the recent shareholder litigation that has followed the current wave of Special Purpose Acquisition Company (SPAC) offerings and associated business combinations has been based on federal securities law claims. However, as a case filed in the Delaware Court of Chancery, Kwame Amo vs. MultiPlan Corp. et al., highlights, SPAC sponsors, directors and officers also face a risk of state law breach of fiduciary claims, in which pl...

Monday, April 5, 2021 Not far behind the dramatic increase in the use of special purpose acquisition companies (SPACs) is a corresponding increase in the number of shareholder lawsuits and increased activity at the US Securities and Exchange Commission (SEC). In recent days, Reuters reported that the SEC opened an inquiry seeking information on how underwriters are managing the risks involved in SPACs, [i] and the SEC’s Division of Corporation Finance (Corp Fin) and acting chief ac...

Seyfarth Synopsis: Special Purpose Acquisition Company (“SPAC”) transactions have dramatically increased since the start of 2020, bringing with them risk of securities litigation. 2020 has been characterized as the “Year of the SPAC,” and there is no doubt that SPAC transactions are on the rise.[1] One industry tracker reports that in 2020 there were 248 SPAC initial public offerings (“IPOs”) raising over $83 billion (as compared to 59 SPAC IPOs raising approximately $13.6 billion i...

By Joshua Franklin (Reuters) - Veteran dealmaker Michael Klein and his partners have made a paper gain of nearly $3.3 billion on their $43 million per...

Veteran dealmaker Michael Klein and his partners have made a paper gain of nearly $3.3 billion on their $43 million personal investment in the blank-check acquisition firm they are merging with luxury electric vehicle startup Lucid Motors Inc, according to Reuters calculations...

By Joshua Franklin and Anirban Sen (Reuters) - Luxury electric vehicle maker Lucid Motors Inc is getting close to a deal to go public at a roughly $12...

Luxury electric vehicle maker Lucid Motors Inc is getting close to a deal to go public at a roughly $12-billion valuation after veteran dealmaker Michael Kleins blank-check acquisition firm...