Edward Totino, left, of Baker McKenzie and Michele Johnson, right, of Latham Watkins. Courtesy photos Delaware Supreme Court Eyes Limits of Trading Restrictions Included in SPAC Bylaws
The Chancery Court decision under review had determined that the restrictive period on post-transaction trading imposed by the SPAC's contract did not include stock the plaintiff owned and that the plaintiff could trade it freely.
July 13, 2022 at 02:57 PM
4 minute read
The Delaware Supreme Court heard arguments Wednesday on whether a business' former officer's shares were restricted by trading bylaws that a special purpose acquisition company, or SPAC, adopted in the process of combining with the business.
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