The firm Levi & Korsinsky brought the suit, seeking to recover losses on behalf of Proterra investors who were adversely affected by the alleged securities fraud between Aug. 2, 2022 and March 15.
The flashiest trend in finance traces back three decades to a pair of old law-school buddies, The Wall Street Journal reports. Now, they are finally cashing in.
Shares of new special-purpose acquisition companies are wobbling around their initial public offering price in March after surging earlier in 2021, the newspaper reports.
Since the beginning of April, blank-check companies have only raised about $12 billion globally, according to Refinitiv. That has done little to dampen the enthusiasm of Asian sponsors, according to investors, deal makers and potential target companies.