In recent weeks, the Delaware Court of Chancery has issued two noteworthy opinions in the special purpose acquisition company (SPAC) context—one related to fiduciary duties and one related to the technical question of when a class or series of stock is entitled to its own separate vote on a charter amendment. These opinions provide valuable insight into how the courts may view common elements of de-spac transactions and also have broader implications for practice. A summary of the court's key holdings is below.
Source: Delaware Court of Chancery Issues Two Opinions in the SPAC Context