The Delaware Court of Chancery's recent decision in In re hennessy capital Acquisition Corp. IV Stockholder Litigation,1 marks the Chancery Court's first total dismissal of a complaint alleging breaches of fiduciary duties in connection with disclosures relating to a merger transaction involving a special purpose acquisition company (SPAC) and establishes precedent that should aid the defense of future claims.
Source: Delaware Chancery Court Issues Precedential Decision Dismissing Claims Challenging “De-SPAC” Merger Disclosures