Articles Tagged with special purpose acquisition companies

Investors Involved in Biggest SPAC Merger File Class Action Securities Lawsuit

Shepherd Smith Edwards and Kantas (SSEK Law Firm at is looking into claims of losses by investors of Grab Holdings, Ltd. (NASDAQ: GRAB). This firm became a public entity on December 1, 2021, via the largest Special Purpose Acquisition Company (SPAC) merger to date with Altimeter Growth Corp. The latter is a blank-check firm run by Altimeter Capital CEO and founder Brad Gerstner.  

Grab Holdings, the largest ride-hailing, and delivery company in Southeast Asia has experienced the opposite of growth. Its shares plunged over 20% from $13.06/share to $8.75 at the end of the first day of trading. On March 3, 2022, Grab announced that fourth-quarter revenues saw a 44% drop from the third quarter. That’s a $1.1B loss. 

Special Purpose Acquisition Companies Can Lead To Losses, High Fees

If you are an investor whose broker recommended that you invest in a special purpose acquisition company (SPAC) and you have suffered losses on your investment, you should contact our investment fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at 

SPACs grew even more popular in 2020 in the wake of COVID-19. Although they can be profitable for those who start one, they’ve also proven to be risky and can result in losses for investors. Contact SSEK Law Firm today to request your free, no-obligation consultation.

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