Special purpose acquisition companies or “SPACs” are an increasingly popular way for private companies to become publicly traded without undergoing a traditional initial public offering. SPACs are companies with no commercial operations that are formed strictly to raise capital through an IPO for the purpose of acquiring one or more unspecified businesses or assets. If a business combination with an identified target is consummated (referred to as the “de-SPAC transaction”), the SPAC and the target business will combine into a publicly traded company. The Clearinghouse is tracking class action lawsuits involving SPACs filed since the beginning of 2019.

A cryptocurrency is a new form of digital asset based on a network that is distributed across a large number of computers. Because these decentralized, self-sustained digital currencies don’t exist in any physical shape or form and are not controlled by any singular entity, they have caused an uproar among regulators and investors. The Clearinghouse is tracking and highlighting crypto-related securities class actions, including actions against cryptocurrency sponsors, issuers and exchanges and actions where the underlying security at issue is a type of cryptocurrency.

Recreational cannabis-based products were first made legal in Washington and Colorado in December, 2012 and are currently legal in several U.S. states. Cannabis-based products were legalized in Canada in October 2018. Securities litigation involving cannabis companies has risen in light of the growing number of companies in the sector, regulatory uncertainties, and overall market volatility in the legal cannabis industry. The Clearinghouse is tracking and highlighting securities class action lawsuits filed against U.S. and Canadian companies in cannabis- and cannabidiol-related businesses.

COVID-19 is an infectious disease that was first identified in late 2019 and eventually caused a global pandemic. The Clearinghouse is tracking and highlighting cases involving (1) misrepresentation or failure to disclose risks associated with COVID-19; or (2) statements about how COVID-19 is impacting the business operations of the company; or (3) false statements about COVID-19.

The opioid crisis refers to a variety of behaviors and events related to the abuse of prescription painkillers and/or opium-derived illicit substances. The opioid epidemic began in the 1990s with the increase of prescription painkillers, and has become a modern health crisis that has resulted in a high number of overdose deaths. The Clearinghouse is tracking and highlighting cases against opioid manufacturers and distributors and their directors and officers alleging false and misleading statements or failure to disclose risks associated with opioid products that have been alleged to be a part of or contributing to the opioid epidemic.

As big data becomes increasingly important to companies, so should data security. Data breaches can grant hackers unauthorized access to customer data and significantly impact company share price and reputation. The Clearinghouse is tracking and highlighting securities class action lawsuits against companies following a data security incident. The first known case was filed in 2015 against LifeLock Incorporated.

Following the exposure of widespread sexual-abuse allegations against Harvey Weinstein in October, 2017, the MeToo hashtag began to spread widely on social media. The Clearinghouse is tracking and highlighting cases involving (1) allegations of sexual harassment by a company Executive or Director; or (2) allegations of a culture of harassment within the company.