The SPAC market has withstood many challenges throughout 2021, including softening of the private investment in public equity (PIPE) market for a majority of the year after a very robust first quarter for initial business...more
1/7/2022
/ Acquisitions ,
Backstop Agreements ,
Breach of Duty ,
Capital Markets ,
Class Action ,
Fiduciary Duty ,
Initial Public Offering (IPO) ,
Investigations ,
Investors ,
Mergers ,
Private Investment in Public Equity (PIPEs) ,
Proposed Legislation ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Share Redemption ,
Special Purpose Acquisition Companies (SPACs) ,
Target Company
On July 13, 2021, the U.S. Securities and Exchange Commission announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed...more
7/29/2021
/ Acquisitions ,
CEOs ,
Disclosure Requirements ,
Enforcement Actions ,
Mergers ,
Misleading Statements ,
Misrepresentation ,
Omissions ,
Rule 10b-5 ,
Section 17(a) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Litigation ,
Securities Violations ,
Special Purpose Acquisition Companies (SPACs) ,
Sponsors
SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence; Stockholders Strike $110 Million Settlement In Suit Alleging Breaches Of Fiduciary Duties By Former...more
7/27/2021
/ Acquisitions ,
Aiding and Abetting ,
Anti-Fraud Provisions ,
Anti-Money Laundering ,
Arkansas Teacher Retirement System v Goldman Sachs Group ,
Bank Secrecy Act ,
Basic v Levinson ,
Board of Directors ,
Breach of Duty ,
Burden of Persuasion ,
Burden of Proof ,
Certiorari ,
Class Action ,
Class Certification ,
Conflicts of Interest ,
Controlling Stockholders ,
Cybersecurity ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Dismissals ,
Failure To Disclose ,
Fiduciary Duty ,
Goldman Sachs ,
Investors ,
Mergers ,
Moneygram ,
Presumption of Reliance ,
Reversal ,
SCOTUS ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Shareholders ,
Vacated ,
Wire Fraud
Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence is Required for Each Putative Class Member; District Judge Approves Magistrate’s Recommendation to Deny...more
5/5/2021
/ Abuse of Discretion ,
Best Execution ,
Bribery ,
Class Action ,
Class Certification ,
Class Members ,
Corporate Counsel ,
Dismissal With Prejudice ,
Dismissals ,
Duty to Disclose ,
Evidence ,
Exelon Generation ,
False Statements ,
FRCP 23(b)(3) ,
Investors ,
Lobbying ,
Material Misrepresentation ,
Mergers ,
Misleading Statements ,
Motion to Dismiss ,
Negligence ,
Omissions ,
Papa Murphys ,
Private Right of Action ,
Proxy Statements ,
PSLRA ,
Putative Class Actions ,
Remand ,
Retail Investors ,
Reversal ,
Rule 10(b) ,
Rule 10b-5 ,
Scienter ,
Securities Exchange Act of 1934 ,
Securities Litigation ,
Securities Violations ,
TD Ameritrade
Massachusetts Superior Court BLS Finds No Duty to Disclose Alleged Preliminary Merger Discussions, Northern District of California Declines to Dismiss Oracle Fraud Class Action Suit, SCOTUS Hears Oral Argument in Goldman...more
4/7/2021
/ Arkansas Teacher Retirement System v Goldman Sachs Group ,
Bad Faith ,
Breach of Contract ,
Breach of Duty ,
Burden of Persuasion ,
Burden of Production ,
Business Litigation ,
Class Action ,
Class Certification ,
Collateralized Debt Obligations ,
DE Supreme Court ,
Derivative Suit ,
Dismissal With Prejudice ,
Dismissals ,
Duty to Disclose ,
Enforcement Actions ,
Fiduciary Duty ,
Fraud ,
Investors ,
Mergers ,
MetLife ,
Misleading Statements ,
Motion to Dismiss ,
Oracle ,
Oral Argument ,
Pensions ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Shareholders ,
Stock Prices
New York Federal Court Dismisses Securities Fraud Claims Against Alkermes for Lack of Fraudulent Intent; Fourth Circuit Affirms District Court’s Denial of Leave to File Amended Complaint Against Triangle Capital as Futile;...more
3/11/2021
/ Amended Complaints ,
Appeals ,
Class Action ,
D&O Insurance ,
DE Supreme Court ,
Dismissals ,
Investors ,
Mergers ,
Misrepresentation ,
Putative Class Actions ,
Scienter ,
Securities Fraud ,
Securities Litigation ,
Securities Transactions ,
Securities Violations ,
Subpoenas ,
Work-Product Doctrine
Rhode Island Federal Court Dismisses Securities Class Action Against CVS Arising From Statements Made After Omnicare Acquisition; SEC Division of Corporation Finance Suggests Companies Issue Additional Disclosures When...more
3/3/2021
/ Acquisitions ,
Asset Purchase Agreements ,
Board of Directors ,
Breach of Contract ,
Breach of Duty ,
Buyers ,
Capital Raising ,
Cardinal Health ,
Class Action ,
Closing Documents ,
CVS ,
Derivative Suit ,
Disclosure Requirements ,
Dismissals ,
Division of Corporate Finance ,
Enforcement Actions ,
Fiduciary Duty ,
Investors ,
Market Volatility ,
Mergers ,
Mismanagement ,
Motion To Strike ,
Omnicare ,
Opioid ,
Purchase Price Adjustment ,
Putative Class Actions ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Unclean Hands ,
Volkswagen