{"id":2228,"date":"2024-08-13T21:26:34","date_gmt":"2024-08-13T21:26:34","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/budding-circuit-consensus-spac-investors-cant-sue-over-acquired-companys-pre-merger-misstatements\/"},"modified":"2024-08-13T21:26:34","modified_gmt":"2024-08-13T21:26:34","slug":"budding-circuit-consensus-spac-investors-cant-sue-over-acquired-companys-pre-merger-misstatements","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/budding-circuit-consensus-spac-investors-cant-sue-over-acquired-companys-pre-merger-misstatements\/","title":{"rendered":"Budding Circuit Consensus: SPAC Investors Can\u2019t Sue Over Acquired Company\u2019s Pre-Merger Misstatements"},"content":{"rendered":"\n<div>\n<p><span style=\"font-weight: 400\">The U.S. Court of Appeals for the Ninth Circuit has become the second federal appeals court <\/span><a href=\"https:\/\/cdn.ca9.uscourts.gov\/datastore\/opinions\/2024\/08\/08\/23-16049.pdf\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">to hold<\/span><\/a><span style=\"font-weight: 400\"> that investors can\u2019t sue over alleged misstatements that an acquired company makes\u00a0leading up to a merger with the one they own stock in.<\/span><\/p>\n<p>The San Francisco-based appeals court last week dismissed a class action suit claiming that electric car maker Lucid Motors and its CEO violated securities law by misleading investors about automobile production projection ahead of its 2021 acquisition by Churchill Capital Corporation IV (CCIV), a special purpose acquisition company (SPAC).<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Court of Appeals for the Ninth Circuit has become the second federal appeals court to hold that investors can\u2019t sue over alleged misstatements that an acquired [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[2938,2935,610,2939,2936,2068,2941,2940,2937,440],"class_list":["post-2228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lawyers","tag-acquired","tag-budding","tag-circuit","tag-companys","tag-consensus","tag-investors","tag-misstatements","tag-premerger","tag-spac","tag-sue"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/2228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=2228"}],"version-history":[{"count":0,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/2228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/2229"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=2228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=2228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=2228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}