On May 31, 2024, the Delaware Court of Chancery issued its first opinion dismissing a “multiplan claim” at the pleadings stage. As a reminder, a MultiPlan claim is a breach of fiduciary duty claim against directors, officers or controllers of a special purpose acquisition company (SPAC) alleging that the fiduciaries interfered with the SPAC stockholders' ability to exercise their redemption rights in connection with a so-called “de-spac” merger…
Source: Court of Chancery Issues First Decision Dismissing MultiPlan Claims