SPAC Investors To Settle Busted Fertitta Deal Suit For $12.5M (Law360)

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Shareholders of FAST Acquisition Corp, a special purpose acquisition company (SPAC), have settled a lawsuit in the Delaware Chancery Court against the SPAC’s sponsor and management for $12.5 million. The suit centered around entitlement to a termination fee paid to the SPAC following a failed business combination with businesses operated by Fertitta Entertainment. Morris Kandinov LLP represented the lead plaintiff Special Opportunities Fund.

By MoKa

Contact Aaron Morris for additional information.