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Law Firms Unite and Push Back on Recent SPAC Litigation, SPACInsider

August 30, 2021

Morgan Lewis is among the law firms that are responding to derivative lawsuits filed by a purported shareholder of certain special purpose acquisition companies (SPACs). The claims assert that the SPACs are investment companies under the Investment Company Act of 1940 given that proceeds from their initial public offerings are invested in short-term treasuries and qualifying money market funds.

Read the full letter as published by SPACInsider >>