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<h2><span style="font-size: small;">Introduction<a name="_ednref1" href="https://www.sec.gov/news/statement/munter-oca-2021-12-06?utm_medium=email&amp;utm_source=govdelivery#_edn1">[1]</a></span></h2> <p><span style="font-size: small;">The events of the past year bring to mind the old saying that &ldquo;change is the only constant in life.&rdquo; Our capital markets continue to evolve and adapt in response to changes in the economic environment, investors&rsquo; needs for new types ...

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms”...

At least one securities class action focusing on the restatement of SPAC warrants has been filed. It remains to be seen whether stock price declines in response to restatements and/or disclosures of weaknesses by SPACs are of sufficient magnitude to prompt more lawsuits.

What happened  In a recent client alert, we discussed the dramatic rise in offerings of special purpose acquisition companies (SPACs) and some of the attendant litigation and enforcement risks. A raft of recent public statements and actions by Securities and Exchange Commission (SEC) staff reflect the agency's enhanced scrutiny of these transactions and suggest that enforcement investigations (and ultimately actions) cannot be far behind. In late March 2021, it was reported that the SEC's Division of Enforcement had requested information from Wall Street banks regarding SPAC transactions....

To embed, copy and paste the code into your website or blog: In light of the dramatic upswing in the use of special purpose acquisition companies (SPACs), the staff of the Securities and Exchange Commission (SEC) has issued several public statements highlighting concerns and issues related to SPACs and private operating companies that are going public through business combinations with SPACs. These business combinations are referred to as "de-SPAC transactions." On April 8, 2021, John Coates, Acting Director of the SEC's Division of Corporation Finance, published a statement titled  SPACs, I...