Chancery Validates De-SPAC Shares To Avoid 'Untold Chaos'

By Leslie A. Pappas (February 22, 2023, 8:54 PM EST) -- Delaware's Court of Chancery has the authority to retroactively validate 115 million potentially overissued shares of electric vehicle maker Lordstown Motors Corp., and doing so is necessary to avoid "untold chaos" and "widespread harm," the court said Tuesday in an opinion that applies to dozens of companies seeking similar relief....

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