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

POLITICO

30 Mar 2022

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 full article.

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