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Traders Magazine
ISS Securities Class Action Services – New Report Highlights $3.26 Billion in 2020 U.S. Settlements
The world was truly turned upside down in 2020 when the novel Coronavirus became the world’s deadliest pandemic in more than a century. The global turmoil over the last year also affected investor opportunities to address allegations of fraud against publicly traded companies.
With different environmental and health factors affecting global economics, United States Federal and State Courts adapted quickly to the new norms and remained adamant in performing its functions. Despite the dramatic decline in newly filed cases of investor complaints in both Federal and State courts throughout 2020, the quantity of traditional class action settlements remained steady, while the settlement amounts increased nominally by 3 percent from $3.17 billion in 2019.
Nick Schorsch is back and heading up a SPAC
The former nontraded REIT czar is looking for a next act in the securities industry, and this time it s a family affair.
February 25, 2021 3 MINS
Nicholas Schorsch, the former nontraded REIT czar who is both loved and hated by financial advisers who sold his products, is reentering the securities business after several years on the sidelines and is heading up a brand new SPAC, or special purpose acquisition company, that will buy leisure-focused businesses.
This month, G&P Acquisition Corp. registered a $200 million securities offering with the Securities and Exchange Commission, with the intention of selling 20 million shares at $10 each. Schorsch is the chairman of the G&P SPAC, which intends to invest in leisure-oriented businesses and the craft brewing automotive and distribution sectors.
Stock guru and mutual fund king Bob Miller has left Legg Mason Inc (NYSE: LM). This comes on the heels of his acquiring a 100 percent stake in LMM LLC. He was already holding 50 percent stake. Miller s 3 1/2 decades could be described as success to failure and return to success. He rose to. Read More.