Perspective
Jun. 23, 2011
The Reverse Merger: Easy Way in or Illegitimate Access to US Capital Markets?
Reverse mergers are allowing unsophisticated, and sometimes fraudulent, companies sell securities to the public. By Marshall P. Horowitz and Brandon Batt of Snell & Wilmer LLP
On April 4, 2011, Commissioner Luis A. Aguilar of the Securities and Exchange Commission (SEC) presented a captivating speech in which he argued that "real capital formation" is only created when investors have access to accurate and adequate information to invest in a particular company and the company then uses that capital investment to foster real, organic growth. He argued that reverse mergers are often not ...
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