A pivotal legal battle is taking place that could sway the entire industry for special purpose acquisition companies, with about five dozen law firms including Goodwin stating their opposition to a trio of novel lawsuits claiming that SPACs should be subject to stringent rules governing investment companies. Goodwin Technology and SPACs partner Jocelyn Arel stated that SPACs are not managing a portfolio of securities on behalf of their public investors, but rather using a temporary safe space to park their money while the SPAC goes about its mission. Read the Law360 article here.