The U.S. District Court for the Southern District of New York granted plaintiff’s motion for certification of a class of former investors in Pioneer Merger Corp., a SPAC that failed to complete a business combination and announced that it is liquidating. The plaintiff, Funicular Funds, LP, was appointed class representative, and the Court rejected both of defendants’ counterarguments as “inapplicable as a matter of law.” The Court also appointed Morris Kandinov LLP as class counsel because it “has been ably and diligently litigating this suit.” The case will proceed to trial, likely in the first quarter of 2024.
Former Pioneer Merger Corp. investors with questions about the litigation should contact Aaron Morris at aaron@moka.law.
