Morris Kandinov LLP has filed a class action complaint on behalf of investors in Concord Acquisition Corp. (Ticker: CND) to prevent the sponsor from dissolving the SPAC in a manner that would deprive stockholders of the value of a termination fee obtained by the SPAC in connection with a failed business combination. The termination fee consists of $20 million dollars of stock in the SPAC’s former target, Circle, a cryptocurrency company. The circumstances are similar to another SPAC case recently filed involving FAST Acquisition Corp.
Contact Aaron Morris for additional information regarding the case at aaron@moka.law.
