Dozens of law firms, including many in Big Law, have now signed onto a letter condemning the legal merits of a lawsuit filed against SPAC Pershing Square Tontine Holdings. But according to several attorneys that work in the SPAC world, all at firms that signed the letter, there isn’t much to worry about.
According to attorneys from Freshfields Bruckhaus & Deringer, Goodwin Procter, Katten Muchin Rosenman and Greenberg Traurig, the legal footing for the suit is shaky at best, and even if for some reason the suit did move forward, it wouldn’t stop companies from raising capital or going public and certainly wouldn’t stop the work from coming in for the lawyers that facilitate those actions.
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