Skip to main content

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.

Ackman says SPAC does not need to be registered, pushes back on lawsuit [Reuters]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.


Bill ackman beach

SPAC Turned SPARC Turned SPAC Again Sued

Bill Ackman thought about doing something, and therefore is illegal.


You Know, Actually, SPACs Are Stupid And Bill Ackman Doesn’t Want To Run One Anyway

But he’s had a SPARC of inspiration, however many months too late.

Getty Images

Too Big To SPAC

The SPAC is dead! Long live the SPARC!


SPACs May Be Illegal, So Make The Most Of Them While You Can

Time to cut a deal before a judge calls time on the whole party, although that’s probably not going to happen.

Bill ackman beach

SPARC Extinguished

A SPAC is apparently a SPAC after all.

Getty Images

Bill Ackman To Stop Doing Thing He Hasn’t Done In Years

You won’t be seeing any future Herbalife-like crusades from Pershing Square anymore.

Getty Images

All Bill Ackman Had To Do To Stop Losing Money Was Read A 50-Year-Old Letter From Warren Buffett

Pershing Square investors past and present may wonder what took him so long, but he got there, and that’s the important lesson of his spiritual journey.