Daily Archives: May 7, 2021, 3:48 pm

The new ‘deal tax’: SPAC defendants are paying plaintiffs lawyers to drop N.Y. state suits | Reuters

In the last seven months, lawyers from a handful of shareholder firms have filed more than 60 lawsuits in New York State Supreme Court in Manhattan against board members of special purpose acquisition companies, accusing SPAC directors of breaching their duty to investors by omitting important information from public filings about their proposed acquisitions. The cases are not being litigated…

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