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Wednesday, 07/17/2013 8:15:24 PM

Wednesday, July 17, 2013 8:15:24 PM

Post# of 426232
Did AZN set up a SPEC in conclusion with Omthera, only to buy them two months later? It looks like something the SEC should review. Especially if used as leverage to negotiate with Amarin. Certainly the FDA won't take kindly to the shame NDA filing infringing on BASF patents.

Is AZN as rotten as GSK's China dealings?

In the United States, the SPAC public offering structure is governed by the Securities and Exchange Commission (SEC). A public offering for a SPAC is typically filed with the SEC under an S-1 registration statement (or an F-1 for a foreign private issuer) and is classified by the SEC under SIC code 6770 - Blank Checks. Full disclosure of the SPAC structure, target industries or geographic regions, management team biographies, share ownership, potential conflicts of interest and risk factors are standard topics included in the S-1 registration statement. It is believed that the SEC has studied SPACs to determine whether they require special regulations to ensure that these vehicles are not abused like blind pool trusts and blank-check corporations have been over the years. Many believe that SPACs do have corporate governance mechanisms in place to protect shareholders. SPACs listed on the American Stock Exchange are required to be Sarbanes-Oxley compliant at the time of the offering including such mandatory requirements as a majority of the board of directors being independent and audit and compensation committees.
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