SPACs targeting electric vehicle and autonomous driving companies end up in litigation more often than those that do not. The first installment of this SPAC series focused on when plaintiffs were most likely to initiate litigation; this second installment highlights the acquisition target seen most often.
Auto-Related Targets Take the Lead
Combined research of Bloomberg Terminal data on completed SPAC mergers and Bloomberg Law Dockets data on SPAC-targeted lawsuits has revealed 36 lawsuits involving SPAC deals that were announced and closed in 2020 through Q1 2021. These cases involved 15 different acquisitions. Of those, 10 of the targets were auto ...
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