Investors in a SPAC that acquired View Inc. have filed a case in the Delaware Court of Chancery seeking damages for breaches of fiduciary duty, aiding and abetting, and unjust enrichment.
The U.S. District Court certified a class of Pioneer Merger Corp. stockholders in a dispute over the distribution of a termination fee paid to the SPAC following a broken transaction.
The Delaware Chancery Court rejected an interlocutory appeal of the Court’s prior ruling denying defendants’ motion to dismiss, permitting discovery to proceed in the case.