Special Opportunities Fund, Inc. (NYSE: SPE) today announced that it has reached a settlement of a class action lawsuit filed in the Delaware Court of Chancery against FAST Acquisition Corp. regarding the distribution of FAST’s net assets.

SPAC shareholders settle a consolidated lawsuit arising from a termination fee paid following a failed business combination.

U.S. District Court denies defendants’ motion to dismiss in dispute over $32.5 million termination fee payment.

Morris Kandinov LLP represents investors in a dispute over a SPAC’s remaining assets in a dissolution after a failed transaction resulted in a termination fee.

Matt Levine writes about the key issue raised by three new SPAC cases filed by Morris Kandinov LLP: “Who gets the cash: the public shareholders, or the sponsors?”

Morris Kandinov LLP has filed a case on behalf of Lightning eMotors, Inc. (previously known as GigCapital 3, Inc.), which entered the public markets through a SPAC transaction based on misrepresentations regarding its business prospects.

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.