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In this Insurance Law Update, Jenner & Block Partner David M. Kroeger and Associate Huiyi Chen examine special purpose acquisition companies, or SPACs, which are shell entities that go through initial public offerings without any underlying business operations or assets, other than cash in a trust account. With the pressure to accomplish an initial business combination in a short period of time comes risks of litigation, they explain. The authors then highlight SPAC-related securities litigation filed in the last two and a half years and identify potential trends and effects in regard to directors and officers, or D&O, insurance coverage. The Update was published by Law360.