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Recent SPAC Litigation Focusing On State Law Claims - Corporate/Commercial Law

To print this article, all you need is to be registered or login on Mondaq.com. Most of the recent shareholder litigation that has followed the current wave of Special Purpose Acquisition Company (SPAC) offerings and associated business combinations has been based on federal securities law claims. However,ย as a case filed in the Delaware Court of Chancery, Kwame Amo vs. MultiPlan Corp. et al., highlights, SPAC sponsors, directors and officers also face a risk of state ...
United States Stephen Blake Kramer Levin Naftalis Michael Klein Patrick Smith Kwame Amo
Source: mondaq.com

Recent SPAC Litigation Focusing on State Law Claims | Kramer Levin Naftalis & Frankel LLP

To embed, copy and paste the code into your website or blog: Most of the recent shareholder litigation that has followed the current wave of Special Purpose Acquisition Company (SPAC) offerings and associated business combinations has been based on federal securities law claims. However,ย as a case filed in the Delaware Court of Chancery, Kwame Amo vs. MultiPlan Corp. et al., highlights, SPAC sponsors, directors and officers also face a risk of state law breach of fiduciary claims, in which pl...
United States Stephen Blake Kramer Levin Naftalis Frankel Michael Klein Patrick Smith Kwame Amo

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Considering a SPAC Transaction? Keep Securities Litigation Risks at Top-of-Mind | Seyfarth Shaw LLP

Seyfarth Synopsis: Special Purpose Acquisition Company (โ€œSPACโ€) transactions have dramatically increased since the start of 2020, bringing with them risk of securities litigation. 2020 has been characterized as the โ€œYear of the SPAC,โ€ and there is no doubt that SPAC transactions are on the rise.[1] One industry tracker reports that in 2020 there were 248 SPAC initial public offerings (โ€œIPOsโ€) raising over $83 billion (as compared to 59 SPAC IPOs raising approximately $13.6 billion i...
Wheby Jr Multiplan Srock Jay Clayton Stanford Law School Securities Class Action Clearinghouse Purpose Acquisition Company Switchback Energy Acquisition Corporation

Liability for SPAC Flops: Waitr Could Be Test Case for Disgruntled Investor Lawsuits

Liability for SPAC Flops: Waitr Could Be Test Case for Disgruntled Investor Lawsuits Waitr Inc. never had the resources of rivals Grubhub Inc. and UberEats. Yet in November 2018 the online food ordering and delivery business went public through a merger with blank-check firm Landcadia Holdings Inc. Landcadia had some powerful names behind it. Tilman Fertitta, a billionaire restaurateur, and Richard Handler, the chief executive officer of Jefferies Financial Group Inc., had raised $250 million i...
United States Lake Charles David Leuschen Chris Meaux Lew Dickey Chamath Palihapitiya

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