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SPAC Retail Investor or Board of Director feat. Machua Millett

SPAC Retail Investor or Board of Director feat. Machua Millett

Machua Millett is the Chief Innovation Officer for Marsh & McLennan (NYSE: MMC). He specializes in policy drafting, program placement, and claims advocacy regarding management and professional liability insurance issues for investment firms. One particular area that Machua dives into intensively is that of SPACs. Tune in to hear Machua's risk assessment and management strategies on SPACs, especially as we look at a particular case of XL Fleet Corp. (NYSE: XL).


About Machua Millett

I specialize in policy drafting, program placement and claims advocacy regarding management and professional liability insurance issues for private equity, venture capital, and hedge funds and private and public companies. I am responsible for overseeing technical insurance policy drafting for our General Partner Liability and portfolio company D&O books, as well as guiding private companies through the insurance aspects of the Initial Public Offering (IPO) process. I am also a senior claims advocate for our alternative investment fund and private and public company clients when they have a claims dispute. My background is as a general commercial litigator, securities class action defense attorney and insurance coverage lawyer. Before Marsh, I spent ten years defending alternative investment firms, private and public companies against regulatory investigations, derivative and class action securities suits, general commercial lawsuits and insurance coverage actions at Bingham McCutchen, Skadden Arps and Edwards Wildman. I was born in Nicaragua, and grew up in Nicaragua and Costa Rica before coming to the United States. I graduated from New Lebanon Junior/Senior High School as a National Merit Scholar, summa cum laude from Tufts University, and Harvard Law School. I live outside of Boston, MA with my wife and two boys. 



A class action has commenced on behalf of certain shareholders in Renewable Energy Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company's customers; (2) as a result, Renewable Energy was not the proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020; (3) as a result, Renewable Energy's revenue and net income were overstated for certain periods; (4) there was a material weakness in the Company's internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.


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