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Judge orders managers for late Johnny Winter to pay $226,000 in damages in lawsuit alleging theft
Read full article: Judge orders managers for late Johnny Winter to pay $226,000 in damages in lawsuit alleging theftA Connecticut judge has settled a bitter feud over the estate of the late legendary blues guitarist Johnny Winter.
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EXPLAINER: What's a SPAC, the latest craze on Wall Street?
Read full article: EXPLAINER: What's a SPAC, the latest craze on Wall Street?In the two years since the office-sharing company’s failed IPO, a new way to launch a stock on Wall Street has become fashionable: SPACs. Special purpose acquisition companies have been embraced by big institutions and small-pocketed investors alike. The goal is to use those millions of dollars to take a private company public without using the traditional initial public offering process that’s been around for decades. Management has a financial incentive to find an acquisition target — most often management receives a 20% stake in the newly public company. An exchange-traded fund consisting of SPACs and companies taken public through SPAC acquisitions, the Defiance Next Gen SPAC fund, jumped 55% between early November and mid-February.