05/05/2021 | Press release | Distributed by Public on 05/05/2021 16:16
The American Bar Association Business Law Section's Month-In-Brief: Securities Law has published 'Acting Director of the SEC's Division of Corporation Finance Releases Public Statement re: Liability Risks in De-SPAC transactions,' which was adapted from a blog post that appeared on Akin Gump's AG Deal Diary. The blog post was written by corporate counsel John Clayton; corporate partners Kerry Berchem, Alice Hsu and Anthony Renzi Jr.; and litigation partner Jacqueline Yecies and counsel Stephanie Lindemuth.
In the blog post, the authors discuss a public statement by John Coates, Acting Director of the SEC's Division of Corporation Finance, 'expressing concern about claims of some practitioners and commentators regarding SPACs.' The authors observe that the public statement 'may provide insight as to how the SEC Staff is thinking about de-SPAC transactions.' They also offer some suggestions on steps to take to mitigate liability exposure.
To read the original blog post, please click here.