Lawyers United: 55 Firms Respond to Investment Company Act Lawsuits Targeting SPAC Industry


The number of law firms coming to the defense of SPACs has now climbed to 55 — up from 49 late last week. The firms are united in their denouncement of the recent lawsuits filed against SPACs by a Yale law professor and a former SEC commissioner. 

The firms assert that there is no factual or legal basis to claim SPACs are investment companies, as the lawsuits allege.

The New York Times’ DealBook weighed in on the development today, offering additional context. Read more.

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