H.R. 5910: Holding SPACs Accountable Act of 2021
Legislation Details
117th Congress
To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude certain special purpose acquisition companies from safe harbor for forward-looking statements, and for other purposes.
Sponsor:
Revises the exclusion from safe harbor protections from liability applicable to forward-looking statements (i.e., statements that predict, project, or use future events as expectations or possibilities) made in connection with certain investments. Specifically, it excludes from the safe harbor a development stage company that has no specific business plan or purpose or has indicated that its business plan is to acquire or merge with an unidenti...
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