Law360 (January 27, 2021, 6:57 PM EST) -- The boom of blank-check initial public offerings that has transformed capital markets in the last year also appears bound to spur more lawsuits as regulators and attorneys focus more attention on these once-obscure acquisition vehicles.
Blank-check companies have not traditionally drawn much litigation because these vehicles historically represented a small portion of the IPO market. Also known as special purpose acquisition companies, or SPACs, blank-check companies are shell entities that raise money to acquire a private company and take it public, offering the target a ready-made public listing.
SPACs exploded last year to account for a majority of IPOs and exceeded...
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