American Banker | The Long and the Short of Market Manipulation (Audio)

Recently a purported shareholder of certain special purpose acquisition companies (SPACs) initiated derivative lawsuits asserting that the SPACs are investment companies under the Investment Company Act of 1940, because proceeds from their initial public offerings are invested in short-term treasuries and qualifying money market funds.

Tim Foley is quoted on the Securities and Exchange Commission’s role in regulating equity markets in response to online meme trading.

The carefree days of unregulated digital asset offerings and transactions are swiftly coming to an end. Our Securities Litigation Group highlights the Securities and Exchange Commission’s first enforcement actions against cryptocurrency companies.