Simpson Thacher Attorneys Author Article on SPAC Market and Media Statement-Related Actions from SEC and SDNY
08.24.21
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Partners Martin Bell, Stephen Blake, Brooke Cucinella, Joshua Levine and Marc Berger, and Associate Kathryn Wheelock authored an article titled, “Continued Scrutiny of SPACs and Media Statements,” which was published by the Harvard Law School Forum on Corporate Governance. The article explores recent parallel charges from the SEC and U.S. Attorney’s Office for the Southern District of New York that reflect the SEC’s ongoing focus on the SPAC market and de-SPAC mergers as well as contain the SDNY’s first allegations that touch upon the SPAC market. It further discusses how these actions serve as an important reminder that statements made on social media and traditional media channels, including by senior executives and directors, require the same level of care and diligence as statements made in formal SEC filing.
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