Lightning Stockholders Obtain Initial Approval of $1.9 Million Derivative Settlement (Law360)

Covered by Law360

The U.S. District Court for the District of Colorado granted preliminary approval of a $1.9 million settlement for the benefit of Lightning eMotors, Inc. arising from its deSPAC transaction with GigCapital3, Inc. The deal also includes significant corporate governance improvements and reforms to be implimented by the company.

By MoKa

The settlement includes two actions asserting derivative claims on behalf of the company. Morris Kandinov LLP serves as counsel for the plaintiff in Uvaydov v. Fenwick-Smith, C.A. No. 2023-0137 (Del. Ch.).

For more information, contact Leo Kandinov.