Sure, did he think about buying $3 billion worth of stock with his Pershing Square Tontine Holdings SPAC? Yes, but the point is Bill Ackman didn’t, in what was an annoying turn of events requiring some quick thinking but definitely not the beginning of the end of the Ackmanaissance, so why are you people hassling him? He has great things still to achieve!
"PSTH has never held investment securities that would require it to be registered under the Act, and does not intend to do so in the future," Ackman said in a statement, referring to the Investment Company Act of 1940 and the Investment Advisers Act of 1940, longstanding market regulatory laws.
"We believe this litigation is totally without merit," Ackman, who runs hedge fund firm Pershing Square Capital Management, added….
Ackman said that his SPAC like all others has owned U.S. Treasuries and money market funds.
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