Ryan Cohen’s investment in GameStop last year was one of the factors driving its torrid run as the “meme stock” of choice. “With the unprecedented surge has come unprecedented scrutiny,” Mr. Coates wrote of the recent boom in blank-check deals. Because the so-called “de-SPAC” deal is technically a merger, it’s given the same “safe harbor” legal protections for its financial forecasts as a typical M.&A. thinks financial forecasts for SPACs might be a problem. “The S.E.C has now put them on notice,” Lynn Turner, a former chief accountant of the agency, said.

Source: International New York Times April 09, 2021 12:16 UTC