Bloomberg Law
Sept. 23, 2020, 10:30 AMUpdated: Sept. 23, 2020, 2:12 PM

Big Law Firms Scramble to Cash in on Blank-Check Bonanza (1)

Roy Strom
Roy Strom

New York lawyer Douglas Ellenoff’s firm was the go-to adviser for “blank-check” initial public offerings long before the niche market exploded into the most fashionable way to go public.

Ellenoff Grossman & Schole’s top spot among legal advisers for special purpose acquisition vehicles is now in danger. Some of the country’s largest and wealthiest law firms are getting in on the game and looking to pluck talent from established SPAC players.

“We are competitive people and we don’t shy from the challenge,” Ellenoff said. “There was a period of time where no large AmLaw 200 firm would have considered poaching ...

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