Solar photovoltaic panel base surrounded by aerial green plants. Credit: jeson/Adobe Stock EV Battery Maker Sues Over De-SPAC Transaction
This suit was surfaced by Law.com Radar. Read the complaint here.
February 13, 2023 at 11:05 AM
1 minute read
QuantumScape, a developer of lithium-metal batteries for electric vehicles, filed a petition in Delaware Court of Chancery on Thursday requesting validation of an Amended Certificate of Incorporation. The petition, which arises from a 2020 shareholder vote on QuantumScape's de-SPAC transaction with Kensington Capital, alleges that the Delaware Court of Chancery's Dec. 2022 decision in Garfield v. Boxed Inc. has caused shareholders to challenge the validity of the transaction. According to the suit, at least nine similar petitions have been filed since the Boxed decision. The petition was filed by Ashby & Geddes. The case is 2023-0157, In re QuantumScape Corp.
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