Credit: Yokie/Stock.Adobe.com SPAC to the Future: Law Firms Are Riding the Wave as Interest Explodes
As special purpose acquisition companies grow in size and status after a record-shattering year, law firms are standing at attention, eager to get in on the action—as long as the bubble doesn't burst.
March 25, 2021 at 03:15 PM
14 minute read
Douglas Ellenoff credits the boom to the erasure of stigma. With nearly 250 blank-check companies launched last year, 2020 may have been "the year of the SPAC," according to a list of commentators too long to count. But the veteran dealmaker and founding partner at New York boutique Ellenoff Grossman & Schole insists the explosion didn't happen overnight.
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As Tech-Focused Roles in C-Suite Expand, Newcomers Embrace Big Law Opportunities
Law Firms Mentioned
- Winston & Strawn LLP
- Gibson, Dunn & Crutcher
- Ellenoff Grossman And Schole Llp
- Wilmer Cutler Pickering Hale and Dorr LLP
- Cadwalader Wickersham & Taft
- Wilson Sonsini Goodrich & Rosati
- Sidley Austin
- Fried, Frank, Harris, Shriver & Jacobson
- Skadden, Arps, Slate, Meagher & Flom LLP
- Munger, Tolles & Olson
- Goodwin Procter
- Reed Smith
- Kirkland & Ellis
- Ropes & Gray
- King & Spalding
- White & Case
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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