News & Analysis as of

Disclosure Requirements Special Purpose Acquisition Companies (SPACs) Enforcement Actions

Whiteford

Client Alert: The New Terrain for Going Public—Strategic Insight for Capital Raisers Amid Regulatory Change

Whiteford on

Imagine a small, fast-growing tech company preparing to go public in 2025. The leadership team, relying on practices that were standard just a few years ago, drafts generic risk disclosures, leans on flexible governance...more

Ropes & Gray LLP

Capital Markets & Governance Insights - January 2025

Ropes & Gray LLP on

Companies should not minimize the extent of a material cybersecurity incident by omitting material facts regarding the scope and potential impact of the incident. Cybersecurity risk factor disclosures should be tailored to a...more

Foley Hoag LLP - White Collar Law &...

SEC to Continue Aggressive Enforcement Efforts in 2024 After Record-Setting 2023

This is the fourth in our 2024 Year in Preview series examining important trends in white collar law and investigations in the coming year. We will be posting further installments in the series throughout the next several...more

Proskauer - Regulatory & Compliance

SEC Adopts New SPAC Rules

On January 24, 2024, the SEC adopted new rules that apply to SPAC transactions and the adopted rules largely track the agency’s proposals with some notable exceptions. The new rules will become effective 125 days after...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: January 1, 2024

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

Morrison & Foerster LLP

Top 5 SEC Developments for July 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Holland & Knight LLP

SEC Enforcement Continues SPAC Crackdown as Founder Trading Profits Generate Scrutiny

Holland & Knight LLP on

Despite the frothy market for special purpose acquisition companies (SPACs) in 2021, companies considering such a transaction have been met recently with significant market headwinds, a short supply of suitable targets, the...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for May 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources....more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for December 2022

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important and interesting SEC enforcement developments from the past month, with links to primary...more

Perkins Coie

Securities Enforcement Forum West 2022: SEC Affirms Aggressive Approach

Perkins Coie on

On May 12, 2022, senior Division of Enforcement officials from the U.S. Securities and Exchange Commission (SEC) shared the stage with SEC alumni, private practitioners, and other professionals in the field at the Securities...more

Goodwin

SEC Charges SPAC, Sponsor, Target, and CEO Over Misleading Proposed de-SPAC Transaction Disclosures

Goodwin on

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

Cooley LLP

Blog: Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days

Cooley LLP on

Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we...more

Herbert Smith Freehills Kramer

SEC Charges SPAC and Sponsor for Alleged Misrepresentations in Preliminary Proxy Filing Arising From Due Diligence Failures

On July 13, 2021, the Securities and Exchange Commission announced partially settled charges against the Special Purpose Acquisition Company Stable Road Acquisition Co. (SRA), SRA’s sponsor and CEO, SRA’s target Momentus Inc....more

Mayer Brown Free Writings + Perspectives

The SEC Pursues Action Against SPAC and Insiders for Misleading Investors

On July 13, 2021, the US Securities and Exchange Commission (“SEC”) announced charges against Stable Road Acquisition Corp. (“SRAC”), a special purpose acquisition company (“SPAC”), SRAC’s proposed merger target, Momentus...more

Cozen O'Connor

SEC Brings Enforcement Action Against All Sides of a Proposed SPAC Transaction for Misleading Disclosures

Cozen O'Connor on

The Securities and Exchange Commission (SEC) continues to scrutinize special purpose acquisition company (SPAC) transactions. On July 13, 2021, the SEC announced its first enforcement action in which all sides of a proposed...more

Foley & Lardner LLP

Private Funds in the Hot Seat under Gensler's SEC

Foley & Lardner LLP on

Since Chair Gary Gensler’s nomination in February, the securities industry has speculated on the rulemaking and enforcement priorities of the Securities and Exchange Commission (“SEC”) under his oversight. While Gensler has...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Takes Aim at SPACs

March Madness extends into April as the Commission markedly increases its focus on SPACs. Surprise pronouncements call into question use of the PSLRA safe harbor for projections and accounting treatment for warrants....more

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