Section 18 "Eyeball Reliance" Claim Brought to the SPAC Fight
By EsqSocial Corporation 06/08/22
As my Mintz colleague, Peter Saparoff, suggested a few years back, Section 18 of the Securities Exchange Act of 1934, "while seldom used in the past, has been increasingly used by institutional investors in suits against banks and other entities." In the article linked, Peter noted some of the advantages (and limitations) of utilizing Section 18 to pursue claims where a plaintiff has relied on alleged material misleading statements to its detriment....
By: Mintz