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Insurance Industry Special Purpose Acquisition Companies (SPACs) D&O Insurance

Lowenstein Sandler LLP

Current State of Play with SPAC Litigation and Available Insurance Coverage

Lowenstein Sandler LLP on

Today, Lynda A. Bennett and Heather Weaver of Lowenstein’s Insurance Recovery Group sit down with Yelena Dunaevsky, Senior Vice President, Transactional Insurance, at Woodruff Sawyer to talk about the current state of SPAC...more

Woodruff Sawyer

Guide to D&O Insurance for SPAC IPOs, 2024 Edition

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As they go through their initial public offering (IPO) and the subsequent merger & acquisition (M&A) process, special purpose acquisition companies (SPACs) face many regulatory, legal, and business hurdles. Obtaining the...more

Wiley Rein LLP

California SPAC Entitled to Advancement of Subpoena-Related Costs Post-Name Change Based on “Potentially Covered” Standard

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The United States District Court for the Northern District of California, applying California law, has held that two former directors and officers were entitled to advancement of defense costs incurred in connection with SEC...more

Woodruff Sawyer

Are SPAC D&O Tails Still Worth Buying?

Woodruff Sawyer on

Until recently, it was an established practice for a SPAC team to buy a six-year tail insurance policy when it merged with its target. The tail costs were usually pre-negotiated years before—at the time of the SPAC’s IPO—when...more

Woodruff Sawyer

SPACs: Delaware Opts Out of “Untold Chaos”

Woodruff Sawyer on

Possibly regretting the repercussions of its recent decision in Delman v. GigAcquisitions3, the Delaware Court of Chancery opted on February 21, 2023, to restore relative peace to dozens of SPACs for which the capital...more

Pillsbury - Policyholder Pulse blog

Closing Up the SPAC Shop: Insurance Consequences and Opportunities for Liquidating SPACs

In 2020 and 2021, Special Purpose Acquisition Companies (SPACs) were all the rage. A SPAC is a “blank check company,” publicly traded, and organized for the purpose of merging with a private company. It’s a mechanism for a...more

Woodruff Sawyer

SPAC Liquidations and Extensions Create D&O Insurance Riddles: Part 2

Woodruff Sawyer on

For a special purpose acquisition company (SPAC) that has not completed a business combination but is approaching its deadline for finding a suitable target, two questions loom large: do we extend or liquidate?...more

Woodruff Sawyer

D&O Looking Ahead Guide - D&O Considerations for 2023

Woodruff Sawyer on

The first half of 2022 brought rapid and dramatic change to the world of US public company D&O insurance. It feels like 2021 is a distant memory: the hot IPO market has cooled, SPAC IPOs have ground to a near halt, and...more

Woodruff Sawyer

Looking Ahead to 2023: A Guide for D&O Insurance Renewals [Report]

Woodruff Sawyer on

Woodruff Sawyer’s 10th annual D&O Looking Ahead Guide is here. In it, you will find expert insights to help guide your 2023 directors and officers (D&O) liability insurance program renewal. Read on for a summary of the...more

Woodruff Sawyer

Insurance For SPACs Just Got a Lot Better

Woodruff Sawyer on

With all the current doom and gloom in SPACland, a ray of sunshine from an unlikely corner—D&O insurance carriers—is making our day a lot brighter. For over two years, we have been making the case that representations and...more

Vinson & Elkins LLP

D&O Insurance Considerations for Going Public via SPAC: Are You Covered?

Vinson & Elkins LLP on

With more than 600 special purpose acquisition companies (“SPACs”) currently looking for merger partners, private companies are likely being courted by a number of SPAC suitors....more

Lowenstein Sandler LLP

Has the SPAC Bubble Burst? Lessons Learned From the Early Days of SPAC Mania

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In this episode of “Don’t Take No for an Answer,” host Lynda A. Bennett is joined by Lowenstein Capital Markets & Securities partner Jared Kelly and Yelena Dunaevsky, Esq., Vice President, Transactional Insurance at Woodruff...more

Hinshaw & Culbertson - Insights for Insurers

Part Seven: Reviewing Key U.S. Insurance Decisions, Trends, & Developments

This is the seventh and final installment of our series of articles reviewing some of the key trends and developments currently impacting the U.S. insurance industry. Some key decisions impacting the D&O and securities law...more

Lowenstein Sandler LLP

Don’t Step on a Crack in the SPAC/deSPAC Insurance Claim Process

Since our last episode on SPACs, the market has cooled some as prime targets are harder to source and capacity in the insurance market continues to squeeze. With skyrocketing premiums and a quick turnaround in the...more

Lowenstein Sandler LLP

The Brave New Frontier of Securing D&O Insurance for SPACs and deSPACs

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Picking up from our last episode, Lowenstein Corporate Partner Valeska Pederson Hintz joins the conversation about securing D&O insurance coverage for SPACs and deSPACs. Valeska, Lynda Bennett, and Rob Crocitto from ARC...more

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