SPAC Officers, Directors Seek Dismissal Of Investor’s ICA, IAA Claims

Mealey's (October 15, 2021, 8:46 AM EDT) -- NEW YORK — Certain officers, directors and advisers of a special purpose acquisition company (SPAC) on Oct. 12 asked a federal judge in New York to dismiss claims for violation of the Investment Company Act of 1940 (ICA) and the Investment Advisers Act of 1940 (IAA) brought against them because the investor has failed to sufficiently plead that the SPAC is an investment company or that its advisers fit the IAA’s requirements for investment advisers....