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Comment by spac_throwawayy | Hacker News Reader

Right, which means they are incentivized to not give me access to my shares which I’m entitled to. Maybe not in their best interest for me to sell, so maybe fiduciary duty is the wrong thing. Seems like they can’t block me from selling. There must be something illegal with that.

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Not necessary. You need to talk to a lawyer. No one here can give you legal advice.

It’s a pretty niche area of law from what I can tell. Most lawyers familiar with SPACs just set them up (already a relatively small area). Most securities lawyers familiar with similar suits don’t have SPAC experience. I’d welcome any leads on lawyers.

The independent lawyers I’ve talked to say something like “sounds like you could sue, but I’m not familiar with that area of law.”

Then it becomes a question who has more money because they will do everything in their power to drag this on. I think you know the answer to this.

> Seems like they can’t block me from selling

Waaaay back in 2000 I bought shares in lastminute.com which was at the time pretty much at the height of the .com boom.

Great move on my part (not).

There was no way for retail investors to dump their shares quickly IIRC as you needed your paper(!) share certificate in order to be able to sell. Institutional investors were able to dump their holdings quickly, us suckers were stuffed.

"Lastminute became a symbol of the dotcom boom and bust as its shares hit a high of 511p after floating at 380p in March 2000, only to slide as low as 80p a month later"[0]

I have the share certificate kept safe as a reminder not to be so stupid again.

[0] https://www.theguardian.com/business/2014/dec/16/lastminute-...

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