'A Sober Look At SPACs' Finds They Shortchange Investors

By Tom Zanki (May 28, 2021, 2:49 PM EDT) -- As policymakers consider reining in special purpose acquisition companies that have taken capital markets by storm over the past year, one academic study gaining attention argues that SPACs are costly vehicles that perform poorly for many investors.

Micheal Ohlrogge A Stanford Law School and New York University School of Law study titled "A Sober Look At SPACs," released last November, is influencing current debate over the vehicles and their impact on public markets, which was a subject of recent congressional hearing and testimony Wednesday by U.S. Securities and Exchange Commission Chairman Gary Gensler.

SPACs, also called blank-check companies, are shell entities...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!