Green Light On SPAC Deal Suit Puts Fiduciary Duty In Context


Howard L. Ellin Edward B. Micheletti Gregg A. Noel Susan L. Saltzstein Sarah Runnells Martin

Partners Howard Ellin, Edward Micheletti, Gregg Noel and Susan Saltzstein and counsel Sarah Runnells Martin review a novel Court of Chancery decision arising from a challenge to a transaction involving a SPAC, which allowed claims to proceed against a SPAC’s sponsor and its directors, as well as an aiding and abetting claim against its financial advisor.