Green Light On SPAC Deal Suit Puts Fiduciary Duty In Context

Partners Howard Ellin, Edward Micheletti, Gregg Noel and Susan Saltzstein and counsel Sarah Runnells Martin review a novel Court of Chancery decision arising from a challenge to a transaction involving a SPAC, which allowed claims to proceed against a SPAC’s sponsor and its directors, as well as an aiding and abetting claim against its financial advisor.