shareholder class action News

The lawyers whose action prompted billionaire investor William Ackman to make changes to his special purpose acquisition company (SPAC) could target more such vehicles, according to three people familiar with the matter. The group, which includes former U.S. Securities and …

Corporate legal battles are often decided on nuanced readings of dense statutes, but one recent ruling that could expose scores of U.S. companies to shareholder lawsuits turned partly on a much simpler defense: everybody is doing it. That failed to …