Budding Circuit Consensus: SPAC Investors Can't Sue Over Acquired Company's Pre-Merger Misstatements

"At the time of [Lucid's] alleged misrepresentations, CCIV and Lucid were two entirely separate companies," the U.S. Court of Appeals for the Ninth Circuit held. "Lucid's alleged misrepresentations made about itself cannot be imputed to another company that later acquired it."

August 12, 2024 at 07:50 PM

4 minute read

By Avalon Zoppo

The original version of this story was published on National Law Journal