Bernstein Litowitz Will Lead MultiPlan SPAC Suit In Chancery

By Rose Krebs (April 15, 2021, 4:44 PM EDT) -- Bernstein Litowitz Berger & Grossmann LLP was appointed Wednesday to lead a consolidated stockholder suit in Delaware Chancery Court targeting a special purpose acquisition company deal to acquire data analytics firm MultiPlan Corp., a transaction the investors contend was "deeply flawed and unfair."

Vice Chancellor Morgan T. Zurn signed an order consolidating two similar investor suits filed against SPAC pioneer Michael Klein, Churchill Capital Corp. III, certain Churchill directors and others seeking damages for allegedly misleading or absent disclosures about MultiPlan before its $11 billion go-public merger valuation in October 2020 and subsequent stock plunge.

Investor Kwame Amo, who filed the...

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