He became a high-profile critic of SPACs after his research revealed conflicts of interest. Michael Klausner, the Stanford Law professor who has become theIt was 2017 – way before the investment vehicles took off in 2020 – and he was teaching a class on business transactions at Stanford Law School. Klausner had asked a lawyer friend to come and talk to the class about a SPAC deal he was working on.
Three years later and the SPAC boom, which gained popularity during the pandemic market boom since it allowed a pathway to the public markets without all the regulations and disclosure requirements of a traditional IPO, hasKlausner became the overnight posterboy for sounding the alarm against SPACs with his academic paper"A Sober Look at SPACs," warning the world about the dangers of SPAC sponsors, who were marketing these securities to mom and pop retail investors and not disclosing...
The SPAC bubble continued to inflate as more and more blank check companies hit the market. Twitter was abuzz with SPAC-mania, boosters took to CNBC and Bloomberg to talk up the financial innovation, and SPACsAround that time, Klausner attended a talk at Stanford given by Chamath Palihapitiya — r "My original thought wasn't that I would do the standing up," he said. He started calling plaintiff's attorneys, offering to act as a consultant or write legal briefs. Eventually, the law firm Grant & Eisenhofer agreed to take on the case, under one condition: that Klausner make the oral arguments himself.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market Crash: Bubble Expert Warns 60% Further Downside AheadA notorious market bear who called the 2000 and 2008 crashes says stocks still have 60% further downside as sky-high valuations remain more inflated than every other crash over the last 100 years except for 1929
Source: BusinessInsider - 🏆 729. / 51 Read more »
Goldman Sachs: 12 stocks recently bought by 'smart money' hedge fundsGoldman Sachs: Here are 12 stocks that 'smart money' hedge funds are moving to as a micro-driven economy sets them up to outperform the broad market Click bait!
Source: BusinessInsider - 🏆 729. / 51 Read more »
PHOTOS: Restored Belle Époque public restroom in Paris costs $2 to useThis Belle Époque public restroom in Paris has been restored to its former glory, but costs about $2 to use
Source: BusinessInsider - 🏆 729. / 51 Read more »
3 things I wish I knew when I became a TikTok and Instagram influencerI'm a TikTok and Instagram creator who earned over $100,000 for the first time last year. Here are 3 things I wish I knew earlier in my career.
Source: BusinessInsider - 🏆 729. / 51 Read more »
7 value stocks to buy with recession risk high: $17B fund managerBuy these 7 value stocks to help your portfolio thrive during 'economic purgatory,' according to the manager of a $17 billion fund Blocked for forcing subscription down throat. truckㆍautomobileㆍmedical vaccineㆍnano science industryㆍnew material industryㆍelectric batteryㆍnew technology start-upㆍit future industry ? Neural network semiconductorㆍspace travel industryㆍweapons industryㆍfuturistic industrial robotㆍAIㆍfactory automation systemㆍnatural energyㆍhealthㆍtravel industry Robot medical deviceㆍrobot aid industryㆍkneecycling recycling industryㆍelectric
Source: BusinessInsider - 🏆 729. / 51 Read more »
ChatGPT wrote college application essays. Here's what experts thought.I asked ChatGPT to write college entrance essays. Admissions professionals said they passed for essays written by students but I wouldn't have a chance at any top colleges.
Source: BusinessInsider - 🏆 729. / 51 Read more »