On January 4, 2023, and again on March 1, 2023, vice Chancellor Lori Will of the Delaware Court of Chancery denied motions to dismiss claims against directors and controlling shareholders of GigCapital-affiliated special purpose acquisition companies (“spacs”) for alleged fiduciary duty breaches.  Delman v. Gigacquisitions3, LLC, et. al., C.A. No. 2021-0679-LWW (Del. Ct. Ch. Jan. 4, 2023) (“Gigacquisitions3”); Laidlaw v. Gigacquisitions2, LLC, et. al., C.A. No. 2021-0821-LWW (Del. Ct. Ch. Mar. 1, 2023) (“Gigacquisitions2”).
Source: Pair Of Delaware Chancery Court Decisions Deny Motions To Dismiss SPAC Shareholder's Fiduciary Breach Claims, Following MultiPlan