Page 17 - Multiplan Corp News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 litigation arising from COVID-19; and Derivative litigation raising issues relating to diversity.  Incr...

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 IPO exclusion to the Private Securities Litigation Reform Act (“PSLRA”) safe harbor for forward...

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 law breach of fiduciary claims, in which plaintiff asserts that the defendants' actions should be ju...

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 plaintiff asserts that the defendants’ actions should be judged under the heightened scrutiny of the...

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 accountant have issued two separate public statements on certain accounting, financial reporting and g...