Del. Chancery Finds Ex-Matterport CEO Can Trade Freely

By Leslie Pappas (January 10, 2022, 2:54 PM EST) -- The former CEO of 3D model maker Matterport Inc. may freely trade his 1.3 million company shares and is not bound by trading restrictions adopted in a merger with a blank-check company last year, according to an opinion on Monday from Delaware's Chancery Court.

The post-trial decision from Vice Chancellor Lori W. Will found in favor of William J. Brown, who had sought a court declaration about his shares in July, just days before Matterport was acquired by a special-purpose acquisition company controlled by the Beverly Hills, California-based investment firm The Gores Group.

"I find that the plaintiff has proven by...

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