49 Law Firms Unite and Push Back on Recent SPAC Litigation

The legal community signs statement declaring these suits are “without factual or legal basis”.

In response to the recent PR machine from former SEC commissioner and current NYU Law professor Robert Jackson and Yale Law School professor John Morley, which have put out multiple statements in the press noting they intend to litigate SPACs for Investment Company Act of 1940 issues, an astonishing 49 law firms have coalesced to release a response to these allegations. ...READ MORE

Law Firm White & Case Fires Shots Across the Bow

Posts a takedown of the recent lawsuits brought by former SEC Commissioner and Law Professor

In the ongoing saga surrounding the recent lawsuits brought by former SEC commissioner and current NYU Law professor Robert Jackson and Yale Law School professor John Morley, against Pershing Square Tontine Holdings, and more recently, GO Acquisition Corp. ...READ MORE

E. Merge and Go Acquisition Corp. Hit with Lawsuits Too

Former SEC Commissioner and Yale Law Professor Try to Outflank SPACs

Last week, Pershing Square Tontine Holdings (NYSE: PSTH) was hit with a lawsuit from former SEC commissioner Robert Jackson and Yale law professor John Morley, claiming that PSTH violated the Investment Company Act of 1940.  ...READ MORE

Northern Star Investment Corp. II (NSTB) Postpones Meeting Again

Northern Star Investment Corp. II  (NYSE:NSTB) announced in a press release this morning that it was once again forced to postpone its tentatively scheduled shareholder meeting to approve its combination with Apex Clearing Holdings. ...READ MORE

Ackman’s Pershing Square Tontine Still Seeking SPARC Structure

Pershing Square Tontine has had more twists and turns than a garden hose…

Last night, Bill Ackman posted a letter to the Pershing Square Tontine website laying out the current situation with the recently filed civil suit and how it affects the SPAC.  ...READ MORE

Mudrick Acquisition Corp. II (MUDS) Terminates Topps Deal

Mudrick Acquisition Corp. II (NASDAQ:MUDS) has terminated its combination with collectible card-maker Topps after it announced it would not see a renewal of its foundational contract with Major League Baseball (MLB) for producing its signature cards.  ...READ MORE

Pershing Square Tontine Faces Suit on Abandoned UMG Deal

Pershing Square Tontine Holdings Facing Lawsuit from Former SEC Commissioner and Law School Professor

By now, everyone new to SPACLand has probably figured out that it’s a real roller coaster over here. ...READ MORE

More info on TPB Acquisition Corp. I’s “QIB Structure”

In this morning’s newsletter, I mentioned TPB Acquisition Corporation I’s (NASDAQ:TPBAU) QIB structure, or their “Stakeholder Alignment Structure”, where they have put a unique twist on the recent trend of using Qualified Institutional Buyers, or “Anchor Investors” in their IPO.  ...READ MORE

Skillz Inc. (SKLZ) Announces Warrant Redemption for Cash Exercise

Skillz Inc. (NYSE: SKLZ), which completed their combination with Flying Eagle Acquisition Corp. in mid-December 2020, announced this morning that they will be redeeming their outstanding public SPAC warrants for cash exercise.  ...READ MORE