Nearly as fast as SPACs themselves rose in popularity, shareholders have started filing litigation against the acquisition companies that have closed their deals.

Aside from securities cases filed in federal courts, Delaware’s Court of Chancery is the primary venue where corporate litigators are watching and waiting to see how the increasingly common companies are treated compared to others involved in M&A and breach of fiduciary duty litigation, with just a handful of cases expected to lay out the scope of SPAC shareholders’ and directors’ rights and duties, as well as how, or if, shareholders will be able to make similar claims in the future.

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