Morris Kandinov LLP represents investors in an action in New York seeking equitable distribution of a SPAC break-up fee.

Two new cases being handled by Morris Kandinov LLP each involve a dispute over a break-up fee following a failed SPAC transaction.

A SPAC investor has sued in the Delaware Court of Chancery, claiming that the SPAC’s sponsor is attempting to pocket a $20 million breakup fee after a failed merger.

Morris Kandinov LLP has filed a class action complaint on behalf of investors in Concord Acquisition Corp. seeking to prevent the sponsor from appropriating a $20 million termination fee consisting of stock in the SPAC’s former target, Circle.

Morris Kandinov LLP has filed an action alleging that investors in Decarbonization Plus Acquisition Corporation were misled by its board of directors prior to the acquisition of Hyzon Motors Inc. (HYZN) in July 2021.

Bernstein Litowitz Berger & Grossmann LLP and Morris Kandinov LLP will lead Delaware Court of Chancery litigation over a $24 million dispute related to FAST Acquisition Corp.

Special Opportunities Fund, Inc. has reached an agreement with FAST Acquisition Corp. to prevent the distribution of the Company’s net assets to Class B shares until the Court rules on whether they must be equitably distributed to all stockholders.

Morris Kandinov LLP has filed a class action complaint on behalf of investors in FAST Acquisitions Corp. to prevent the sponsor from dissolving the SPAC without first distributing the SPAC’s $23.7 million in net assets to investors.

Morris Kandinov LLP has filed a derivative complaint on behalf of a shareholder of Clover Health Investments, Corp. (CLOV) alleging, among other things, that the company concealed from investors, before going public through a SPAC, that the U.S. Department of Justice was actively investigating at least a dozen different matters relating to its business, which jeopardized the company’s ability to earn revenue through participation in the Medicare Advantage program.