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Michael Birnbaum spoke to POLITICO about the Securities and Exchange Commission’s (SEC) proposed rules that will crack down on blank-check companies, known as SPACs [special-purpose acquisition companies], looking to give investors the power to sue if they’re presented with too rosy a picture about future financial gains. 



SEC To Crack Down on Blank Check Companies That Overpromise Gains to Investors

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Michael Birnbaum spoke to POLITICO about the Securities and Exchange Commission’s (SEC) proposed rules that will crack down on blank-check companies, known as SPACs [special-purpose acquisition companies], looking to give investors the power to sue if they’re presented with too rosy a picture about future financial gains. “I don’t think the proposals will mark an end to SPACs,” Michael said, but added: “Some of these proposals have the potential to add significant costs to the process that might not be worth the benefits.”Read the <a target="_blank" href="https://www.politico.com/news/2022/03/30/sec-spac-investors-market-00021644">full article</a>.

SEC To Crack Down on Blank Check Companies That Overpromise Gains to Investors

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Michael D. Birnbaum

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Securities Enforcement