Morris Kandinov LLP is representing an investor in an action against Forte Biosciences Inc.’s board for breaching its fiduciary duties by diluting stockholders’ voting power to protect incumbents’ positions.
After being sued, the board of trustees of the First Trust closed-end funds announced that they have “determined to rescind the control share provisions.”
Morris Kandinov LLP represents investors in a dispute over a SPAC’s remaining assets in a dissolution after a failed transaction resulted in a termination fee.
Matt Levine writes about the key issue raised by three new SPAC cases filed by Morris Kandinov LLP: “Who gets the cash: the public shareholders, or the sponsors?”
A SPAC investor has sued in the Delaware Court of Chancery, claiming that the SPAC’s sponsor is attempting to pocket a $20 million breakup fee after a failed merger.