SPAC Seizes On SEC’s Proposed Rules to Fight Investor Suit

A blank-check company co-founded by Noam Gottesman told a court that newly proposed SEC rules support its legal defense against an investor.

The company’s filing appears to be the first to invoke the U.S. Securities and Exchange Commission proposal in a legal battle over whether certain SPACs are really investment companies.

The rules would require SPACs, or special purpose acquisition companies, to disclose more information about their sponsors and potential conflicts of interest. Gottesman’s SPAC, Go Acquisition, which he founded with Hertz Global Holdings Inc. Chairman Greg O’Hara, told a federal judge in a letter Thursday that the ...