Key Points
Between September 2020 and March 2021, at least 35 SPACs have been hit with one or more shareholder lawsuits filed in New York state court.
These lawsuits generally allege that SPAC directors breached their fiduciary duties to shareholders by providing allegedly inadequate disclosures regarding proposed de-SPAC mergers. Some of these lawsuits also assert claims against the SPAC itself, as well as the target company and its board of directors, for allegedly aiding and abetting the SPAC directors’ breaches.
Although these cases are in their early stages and assert claims that are limited in scope, they signify that the plaintiffs’ bar is actively monitoring and pursuing SPACs. As additional de-SPAC transactions are announced and close, SPAC shareholder lawsuits are likely to multiply, potentially subjecting SPACs, their boards and sponsors to more significant civil risk and exposure.
Industry Voice: Pricing ESG risks in credit markets through volatility, our conviction confirmed
To analyse credit risks with greater precision, we developed a pricing model in 2017 to capture the influence of ESG factors on credit spreads. Today, we revisit our study to understand the impact that 2020 has had on that relationship.
Sponsored by Federated Hermes
Back in 2017 we analysed the link between ESG factors and credit spreads
[1] in an effort to refine our ability as fixed income investors to more accurately price factors beyond traditional operating and financial risks. We were able to demonstrate that companies with better environmental, social and governance (ESG) practices tended to have lower credit default swap (CDS) spreads, even after controlling for credit ratings and other risk factors. Using the results, we plotted predictions of CDS spreads for given values of ESG scores, drawing an innovative implied ESG pricing curve. In 2018 we published an updated study
WhatsApp
Exodus a multi-currency wallet that supports over a hundred cryptocurrencies set a record share sale in a regulated public offering. The Delaware-based firm, Exodus Movement, commenced the share sale on April 8 after the approval of the United States Securities and Exchange Commission.
In just five days, the firm has been able to raise around $59 million. The share is being offered at $27.42 and the offering will last until the goal of $75 million is reached. The crypto wallet had been able to complete around 80% of its fundraising goal from over 4,000 investors.
The Regulation A sale enabled Exodus to reach far beyond accredited investors. The firm reported a majority of the investment has come from retail and non-accredited investors while accredited investors only accounted for 8% of the total investment. The offering was only available to investors in Texas, Arizona and Florida. The wallet accepted investment in Bitcoin, Ethereum and USDC instead of
AUO to Debut Stunning Series of ALED Displays at Touch Taiwan 2021 with World-leading Micro LED Technology and Applications on Showcase
Share Article
AU Optronics Corp. will participate in Touch Taiwan 2021 at the Nangang Exhibition Center from April 21 to 23. With the theme “Infinite Splendors,” AUO will showcase a series of AUO proprietary ALED technologies and applications, including the industry-leading adoption of cutting-edge micro LED display technology to home entertainment and automotive applications; small pitch LED display solutions perfect for indoor and outdoor retail spaces and performance venues. Next-generation sensing and touch technologies targeting financial and medical applications, new applications of eye-care technology, smart retail solutions of comprehensive software and hardware integration, and successful cases of circular economy will also be exhibited.
London listed NQ Minerals Plc (AQSE: NQMI, OTCQB: NQMLF, OTCQB:NQMIY) ( NQ or the Company ), is pleased to announce that haulage of gold bearing material from the Beaconsfield Wetlands environmental cleanup area to the Beaconsfield gold processing plant has now commenced. NQ Minerals Chairman, David Lenigas, comments; We now have a fleet of 6 trucks moving a significant amount of gold bearing material from the Wetland area, located to east of the Beaconsfield townsite, to the Beaconsfield processing plant area. This material has been deposited in the Wetlands area over the 100 years of historic mining at Beaconsfield and has been considered for many years to be an environmental issue that needed to be addressed. NQ plans to modify the Beaconsfield processing plant over the coming months to extract the gold from this material as a key component of our mine re-opening plans. Regular updates on tonnage stockpiled at the plant, gold grades and metall