Financial Securities Attorneys to Present on de-SPACs

Dan Brecher to Speak at Strafford CLE Webinar “SPACs, de-SPACs, and Sponsor Liability: Conflicts of Interest, Mismanagement Claims, Disclosure Obligations”

On Tuesday, May 2, 2023, Financial Securities attorney Dan Brecher will be speaking on a panel as part of a Strafford CLE Webinar entitled, “SPACs, de-SPACs, and Sponsor Liability: Conflicts of Interest, Mismanagement Claims, Disclosure Obligations”. The CLE webinar will examine the liability risks for sponsors of special purpose acquisition companies (SPACs) and explain how a de-SPAC transaction should be structured to avoid conflicts of interest, SEC disclosure violations, and mismanagement claims.

During the webinar, Mr. Brecher will be joined in a panel by fellow attorneys Joseph M. Lucosky and Mitchell S. Nussbaum to discuss sponsor conflicts of interest and fairness liability claims, as well as recent case law in which courts have taken a helpful active approach in remedying legal mistakes and retroactively fixed defective corporate acts of the SPACs.  The discussion will also include cases such as In re: Lordstown Motors Corp; In re: Lucid Group, Inc.; In re: Charging Point Holdings, Inc.; and Fisker Inc., among the rapidly growing number of Delaware SPAC seeking such retroactive relief under Delaware corporation law; and the recently announced settlement in the Churchill Capital Corp. III shareholder class action alleging disclosure failures.

The experienced panel will review issues and examine questions like:

• What are the reasons behind the formation of SPACs, and what are the risks in an overcrowded market?
• How do the incentives created under SPACs differ for the sponsor and the investors?
• What are the sponsor’s disclosure obligations at the SPAC and de-SPAC stages?
• How can mismanagement claims arise against the sponsor post-closing?
• How to anticipate, avoid and protect against claims against the sponsor?
• What special concerns should sponsors have concerning acquisitions of portfolio companies affiliated with or controlled by the sponsor?

Attendees of the 90-minute webinar are eligible for 1.5 CLE credits. To learn more about the event and register to attend, click the link below: 

https://www.straffordpub.com/products/spacs-de-spacs-and-sponsor-liability-conflicts-of-interest-mismanagement-claims-disclosure-obligations-2023-05-02