News & Analysis as of

False Statements Enforcement Actions Special Purpose Acquisition Companies (SPACs)

Holland & Knight LLP

Watts What You Say? SEC Brings a Battery of Charges Against EV Startup Company

Holland & Knight LLP on

The SEC on Feb. 29, 2024, announced settled charges against Lordstown Motors Corp. (Lordstown) for allegedly misleading investors about sales prospects for the Endurance, Lordstown's flagship pickup truck for the electric...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: June 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Proskauer - Corporate Defense and Disputes

Ex-Nikola Chairman Indicted for Securities Fraud

In April 2021, the SEC released several public statements that may have begun to cool a superheated SPAC market. FINRA soon followed suit, announcing in July 2021 a regulatory sweep aimed at SPACs.  Now, for the first time, a...more

Vinson & Elkins LLP

SEC Brings Enforcement Action Against SPAC And Its Sponsors Arising From Due Diligence Efforts On Acquisition Target

Vinson & Elkins LLP on

On July 13, 2021, the Securities and Exchange Commission (“SEC”) announced one of its first securities fraud enforcement actions against a Special Purpose Acquisition Company, or SPAC, called Stable Road Acquisition Corp....more

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