Chancery Finds Sufficiently Pled Fiduciary Duty Claims Relating to De-SPAC Transaction
By EsqSocial Corporation 11/04/25
Solak v. Mountain Crest Capital LLC, et al., C.A. No. 2023-0469-SG (Del. Ch. Oct. 18, 2024) - The Court of Chancery found that the plaintiff stated legally-sufficient claims in connection with a merger transaction against the controller defendants and the members of the SPAC’s board, including the claim that the defendants breached their duty of loyalty by misinforming the stockholders of material information prior to the vote on the merger....
By: Morris James LLP