SPAC Flop Is Test Case for Disgruntled Investor Lawsuits
Since the start of 2019, 13 SPAC-related shareholder lawsuits have been filed. Bloomberg | Feb 16, 2021 (Bloomberg) -- 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 in backing for Landcadia so that the special purpose ac...