Seyfarth Shaw, LLP recently issued the following annoucement.
Date: September 23, 2021
Gregory Markel will be moderating and Giovanna Ferrari will be a panelist at the PLUS webinar, "SPAC and Related IPO Litigation As It Has Evolved and The Current State of SEC Regulation of Disclosure."
SPACS have gone through many changes since the start of 2020. During 2020 and continuing through the first quarter of 2021, there were record numbers of SPAC IPO’s which were designed to finance acquisitions of operating companies. Celebrities were involved in a number of these SPAC companies. Generally no acquisition target had been identified at the time of the IPO. As time has gone on, there has been an increase in the amount of litigation involving SPACS, the IPO process and the "de-SPAC-ing" acquisition. There are also a variety of legal theories with various types of participants in the SPACS as plaintiffs and defendants. Many believe there is much more litigation to come. This situation has resulted in underwriting challenges for many carriers who participate in underwriting risks relating to SPAC transactions. A relatively new development is the SEC signaling an intended increase in regulation of SPAC transactions and disclosures.
Greg and Gina will be joined by Kieran Hughes, Senior Vice President, Senior Claims Counsel, McGriff Executive Risk Advisors; Kevin M. LaCroix, RPLU, Executive Vice President, RT ProExec, a division of R-T Specialty, LLC; and Deirdre Martin, Senior Vice President, Chief Underwriting Officer, Sompo International.
Original source can be found here.