A blank-check company co-founded by Noam Gottesman told a court that newly proposed SEC rules support its legal defense against an investor, Bloomberg News reported. The company’s filing appears to be the first to invoke the U.S. Securities and Exchange Commission’s proposal in a legal battle over whether certain SPACs are really investment companies. The rules would require SPACs, or special purpose acquisition companies, to disclose more information about their sponsors and potential conflicts of interest. Gottesman’s SPAC, Go Acquisition, which he founded with Hertz Global Holdings Inc. Chairman Greg O’Hara, told a federal judge in a letter Thursday that the rules bolster Go’s case against the investor, George Assad. “In multiple ways, the SEC’s proposed rules reinforce what defendants have said from the outset of this litigation: GO is a SPAC, not a secret investment company,” according to the letter.
