Ackman SPAC Can't Lean On SEC To Beat Suit, Investor Says

By Dean Seal (November 30, 2021, 9:50 PM EST) -- An investor challenging the legality of hedge fund titan Bill Ackman's special purpose acquisition company says the blank-check company can't keep asking the court to assume that its structure has been approved by the U.S. Securities and Exchange Commission.

George Assad urged a New York federal court on Monday not to dismiss derivative litigation claiming Pershing Square Tontine Holdings Ltd. is actually an unregistered investment company masquerading as a traditional SPAC, and that Ackman's hedge fund, Pershing Square Capital Management, is serving as its investment adviser.

The Pershing Square SPAC, four of its directors and several related entities said in early...

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!