Self-Driving Truck Co. Brass Hit With Derivative Suit Over IPO

By Emilie Ruscoe (December 1, 2022, 9:51 PM EST) -- Former U.S. Transportation Secretary Elaine Chao and other current and former brass of autonomous truck company Embark Technology Inc. have been hit with a shareholder derivative action in Oakland federal court, claiming that the company's $4.25 billion go-public merger with a special-purpose acquisition company represented an overpayment for the "unproven" company....

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