Securities Exchange Act, Special Purpose Acquisition Companies (SPACs)

Fourth Circuit Affirms District Court’s Denial Of Motion To Amend A Securities Fraud Class Action Against Quantum Computing...

A&O Shearman on 4/22/2025

On April 8, 2025, the United States Court of Appeals for the Fourth Circuit affirmed the district court’s denial of a motion to amend a class action complaint against a quantum computing company (the “Company”) and the...more

SEC Staff Expands Draft Registration Statement Accommodations

Goodwin on 3/12/2025

On March 3, 2025, the staff of the U.S. Securities and Exchange Commission’s (the “SEC”) Division of Corporation Finance (the “SEC staff”) announced that, effective immediately, it is enhancing the accommodations available to...more

SEC Staff Expands Confidential Review Accommodations for Certain Issuers and Transactions

WilmerHale on 3/12/2025

On March 3, 2025, the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (the “SEC”) issued new guidance, effective immediately, significantly expanding the ability of companies to...more

Southern District Of New York Grants In Part And Denies In Part Motion To Dismiss Regarding SPAC Acquisition of Online Lottery...

A&O Shearman on 3/11/2025

On February 25, 2025, Judge Jennifer L. Rochon of the United States District Court for the Southern District of New York granted in part and denied in part motions to dismiss amended complaints filed in a putative class...more

SEC Expands Accommodations for Issuers Submitting Draft Registration Statements

Mayer Brown Free Writings + Perspectives on 3/7/2025

On March 3, 2025, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) announced a new policy, with immediate effect, expanding the accommodations available for issuers that...more

SEC to Expand Confidential Filing Privileges

Sheppard Mullin Richter & Hampton LLP on 3/7/2025

The U.S. Securities and Exchange Commission (SEC) has announced significant changes to its confidential filing procedures, aiming to support capital formation and provide greater flexibility for companies planning public...more

SEC Expands Confidential Review Process to Facilitate Capital Formation

DLA Piper on 3/6/2025

Companies seeking to raise capital through a public offering are encouraged to note the US Securities and Exchange Commission (SEC)’s announcement on March 3, 2025 that the staff of the Division of Corporation Finance (SEC...more

SEC Staff Expands Confidential Submission Options for Issuers

Latham & Watkins LLP on 3/5/2025

The SEC Staff has expanded the ability of issuers to make confidential submission of draft registration statements and clarified the procedures for making confidential submissions. This new policy takes effect immediately....more

SEC Expands Confidential Filings to Facilitate Planning for IPOs

Stinson - Corporate & Securities Law Blog on 3/4/2025

The SEC announced that its Division of Corporation Finance is further facilitating capital formation by enhancing the accommodations available to companies for nonpublic review of draft registration statements....more

Ninth Circuit affirms dismissal under “bright-line rule” regarding SPAC merger

Hogan Lovells on 12/23/2024

In re: CCIV / Lucid Motors Sec. Litig., 110 F.4th 1181 (9th Cir. 2024), the Ninth Circuit affirmed dismissal of a securities fraud class action brought by investors under Sections 10(b) and 20(a) of the Exchange Act and Rule...more

Ninth Circuit Affirms Dismissal Of Exchange Act Claims Against Post deSPAC Company, Holding That Shareholders Of The SPAC Lack...

A&O Shearman on 8/13/2024

On August 8, 2024, the United States Court of Appeals for the Ninth Circuit affirmed United States District Judge Yvonne Gonzalez Rogers’s dismissal of a putative securities class action asserting claims under Sections 10(b)...more

Northern District Of California Dismisses Putative Class Action With Prejudice For Failure To Adequately Allege Loss Causation And...

A&O Shearman on 4/17/2024

On April 9, 2024, Judge Beth Labson Freeman of the United States District Court for the Northern District of California dismissed with prejudice a putative class action asserting claims under the Securities Exchange Act of...more

Nutter Securities Enforcement Update: March 1, 2024

Nutter McClennen & Fish LLP on 4/5/2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

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

Holland & Knight LLP on 3/13/2024

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

2023 Securities Litigation Year in Review

Jones Day on 2/28/2024

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more

Top 5 SEC Enforcement Developments for January 2024

Morrison & Foerster LLP on 2/27/2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s approval of spot bitcoin ETPs; - •SEC charges...more

Trending in securities class actions: Section 10(b) claims predominate, Ninth Circuit sees uptick, according to Cornerstone Report

Cooley LLP on 2/21/2024

Cornerstone Research (a top consulting and expert testimony firm) issued its 2023 Year in Review report, examining recent trends in securities class action filings. According to the report, in 2023 there was a slight uptick...more

Southern District Of New York Dismisses Putative Class Action Regarding SPAC Acquisition Of Online Lottery Company

A&O Shearman on 2/14/2024

On February 6, 2024, Judge Jennifer L. Rochon of the United States District Court for the Southern District of New York dismissed with leave to amend a putative class action asserting claims under the Sections 10(b) and 14(a)...more

Nutter Securities Enforcement Update: January 1, 2024

Nutter McClennen & Fish LLP on 1/17/2024

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

Eastern District Of New York Grants Motion To Dismiss Proposed Securities Class Action Complaint Against Battery Recycling Company...

A&O Shearman on 11/1/2023

On October 6, 2023, Judge Hector Gonzalez of the United States District Court for the Eastern District of New York granted a motion to dismiss a putative securities class action against a battery recycling company and the...more

Securities Exchange Act › Special Purpose Acquisition Companies (SPACs)