News
You’re Nobody If You’re Not Settling Some Allegation Of Wrongdoing Before Going Public
No lame-o’s allowed in the cool kids SPAC club.
![By Mike Cauldwell (https://www.casascius.com/photos.aspx) [Public domain], via Wikimedia Commons](https://dealbreaker.com/.image/ar_16:9%2Cc_fill%2Ccs_srgb%2Cfl_progressive%2Cg_faces:center%2Cq_auto:good%2Cw_620/MTYxMjc3MTE1NTcxOTA2MDM3/bitcoins.jpg)
Former Alleged Father-Son Fraudster Allegedly Became A Mama’s Boy
No, Brent Kovar’s mother didn’t have an “artificial intelligence supercomputer” in her basement, the SEC says.
Robinhood Employees Ready, Willing, Eager, Allowed To Dump Their Shares Onto The Next Sucker At Earliest Opportunity
If that’s not a sign of confidence we don’t know what is.
Turns Out You Can’t Trust Insider Traders To Not Insider Trade, Even If You Ask Nicely
Those inclined to do it are not inclined to be dissuaded by a pandemic-induced sense of everyone being in this together.
Space SPAC Sketchy, SEC Says
Is it important to ask whether the rockets work and the founder is a possible national security risk?
Man With $150 Billion Whines To Court About Having To Do Job That Made Him $150 Billion
Elon Musk demands your sympathy for these diamond handcuffs he’s put himself in. Oh, and also to not have to pay these losers $2 billion.
TikTok Founder Knows A Veiled ‘Don’t Even Think About An IPO’ When He Hears One
Didi’s founder? Not so much.
Former Long Island Iced Tea Allegedly Doing Some Long Island Insider Trading
Certainly more than its doing any iced tea, or blockchain, for that matter. Allegedly.
Maybe It’s Best Not To Have Corporate Armies Of Hackers Roaming The Internet
Seems like the unintended consequences might vastly outweigh the benefits, if any.
Robinhood May Lose 81% Of Its Revenue, Still Going Public Anyway
No payment for order flow? No problem for this merry band of troublemakers.
Noted Political Savant Anthony Scaramucci Accuses Communist Country Of Hostility To Capitalism
I guess they don’t ready Marx at Tufts?
Robinhood Deletes One Line From Voluminous ‘Legal Issues’ Section Of IPO Prospectus
Good enough to plow ahead!
Only 2.5% Of Crypto Fund Whose Founders Are Hiding In Fear For Their Lives Is Missing, Nothing To See Here
Just another normal day in the cryptoverse.
Largest Crypto Exchange Banned From Britain, Hottest Digital Token Tanks, Bitcoin Soars, Rinse, Repeat
For something so volatile and theoretically interesting, the not-particularly-trying trials of faux currencies are actually quite boring.
Get Revenge On The Whistleblower Who Stopped You With This One Vindictive Trick
If you file for bankruptcy, you may lose everyone, but at least he or she will get nothing.
Got A Startup Starting With The Letter ‘B’?
Today’s your day to dance with the SPAC of your choice.
Rubberneckers Looking Non-Existent Truck Pileup That Was Last Major Electric Vehicle SPAC Deal Not Slowing Down
There’s no time to check whether your dancer partner’s been drinking before getting in the car with him at this SPAC party.
![By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons](https://dealbreaker.com/.image/ar_16:9%2Cc_fill%2Ccs_srgb%2Cfl_progressive%2Cg_faces:center%2Cq_auto:good%2Cw_620/MTYxMjc3MTIzODkyNjg0Mjc3/gavel.jpg)
Short Seller To Refund Company He Slammed And, More Painfully, Apologize
The only way to prove you really mean it when calling a short seller a liar is to sue and win.
Lordstown Executives Showing Great Confidence In They’re Not-At-All-About-To-Drive-Into-A-Ditch Company
What about selling 99.3% of one’s shares in a company would make you think otherwise?
Another Timely Dealbreaker Warning Not To Confess To Securities Fraud In Public
“Insider trading is part of my investment strategy” is a funny joke only if it’s not. Otherwise, it’s an admission of guilt.
Gary Gensler To Do More In First Months Than Jay Clayton Did In Four Years
The little regulator that could has 10b5-1 plans, SPACs, Twitter, accounting and chief compliance officers in his sights.
AMC’s Hertz Sequel Far More Successful Than The Original, Spawns Sequel Of Its Own
Dilute existing shareholders, have huge block of shares sold, get called overvalued, see stock double, repeat.
SEC: Let’s Just Pretend The Last Four Years Didn’t Happen
Like actual democracy, the Biden administration is in favor of shareholder democracy.
$100 Million Deli That’s Actually A $2 Billion Deli That’s Actually A Thinly-Disguised SPAC Posts $170,000 Loss
The good news is sales are up, although not nearly by that much.
It Doesn’t Look Like There Will Be A Second Season Of ‘Billions’ Wardrobe Drama
It’s never good when a federal judge cuts your lawyer off with, “That’s enough.”
Fetid Water Purveyor Fetches $1.4 Billion In IPO
You can’t buy an Oatly six-pack these days, but you can buy its shares.
SPAC To Merge With SPAC That Merged With Spinoff From Company The First SPAC Is Merging With
This may be the first SPAC to essentially merge with itself, but it will most assuredly not be the last.
![By Mariuszjbie (Own work) [GFDL or CC BY-SA 4.0-3.0-2.5-2.0-1.0], via Wikimedia Commons](https://dealbreaker.com/.image/ar_16:9%2Cc_fill%2Ccs_srgb%2Cfl_progressive%2Cg_faces:center%2Cq_auto:good%2Cw_620/MTYxMjc3MTI3NjUxNTY3NTgw/kodakfilm.jpg)
$100 Million Deli Antagonizes Customer Base By Firing Local Hero/School Principal/CEO
All of Paulsboro may boycott its sandwiches, but Hometown International probably doesn’t care.
‘Billions’-Based Courtroom Costume Drama To Return Long Before ‘Billions’
Shull v. Sorkin is coming back to a courtroom near you (if you live in Manhattan), and to a livestream for everyone else.
Everyone Makes Mistakes, But The FBI’s Not Sure Pension Funds Make Such Convenient Ones
Which is another way of saying, it thinks it might not be a mistake.
![Wharton: Strangely silent on the whole matter. By WestCoastivieS (Own work) [CC0], via Wikimedia Commons](https://dealbreaker.com/.image/ar_16:9%2Cc_fill%2Ccs_srgb%2Cfl_progressive%2Cg_faces:center%2Cq_auto:good%2Cw_620/MTYxMjc3NDM0NzQxMDA4MzQ4/wharton.jpg)
HR Execs Sign Up For Expensive Wharton Certification Program, Get Expensive Lesson In (Alleged) Fraud Instead
Luckily for them, they’ll also be getting the certificate, now, too.
Allegedly Fake Companies Allegedly Bought Some Very Real, Very Fast Rides
Mustafa Qadiri (allegedly) knows what we’re talking about.
German Fondness For Puns Not Shared By U.S. Regulators
As the Teutons should know, there are rules, and they are not to be joked about.
America Is Still Not Ready For A Bitcoin ETF
Well, strictly speaking, the SEC’s not ready, but practically speaking they’re the same thing.
Robinhood Customer Service Still Sucks, IPO Still Moving Full Speed Ahead
Call it the Coinbase model of doing business.
Bitcoin, Emissions Credit Company Tesla Posts Record Quarterly Profit
It does some other stuff, too, but they're not relevant to the bottom line.
Robinhood Gets Some Good News Vis-à-Vis Getting Sued
TD Ameritrade can’t be hit with a class-action over payment for order flow, so the little app that sometimes couldn’t probably can’t, either.
It’s Best To Monitor Your Autonomous Tesla From The Driver’s Seat, Especially If The Autopilot’s Not On
Lessons from this weekend’s fiery (of course) crash.
Shockingly, Guy Behind $100 Million South Jersey Deli Has A Shady Past
Also, it’s not a $100 million deli. It’s a $1.9 billion deli.
Elon Musk Wants To Send 30,000 Bumper Satellites Into Orbit
The owners of the satellites they’ll be bumping into are less than enthusiastic.