June 7, 2023


Advocacy. Mediation. Success.

Over 55 of the Nation’s Leading Law Firms Respond to Investment Company Act Lawsuits Targeting the SPAC Industry

Not too long ago a purported shareholder of certain specific function acquisition firms (SPACs) initiated derivative lawsuits asserting that the SPACs are financial investment corporations under the Investment Organization Act of 1940, simply because proceeds from their initial general public offerings are invested in limited-term treasuries and qualifying revenue current market resources….
By: Skadden, Arps, Slate, Meagher & Flom LLP