Herrick law firm partner Shivani Poddar and associate Heather Zimmer wrote a piece for Bloomberg Law on SPACs and strategies to minimize the risk of potential litigation.
The pair outlined several risks and measures in the paper:
- Adequate Disclosures Must Be Provided
- Disclosure of Shareholder Rights in the Certificate of Incorporation
- Material Information In Proxy Statements
- Necessary Diligence for SPAC Signatories
- Necessary Warning for Valuations
- Related-Party Transactions
- Assessment of Appraisal Rights
