SPAC investor sues over allegedly conflicted XL Fleet deal [Reuters]
XL Fleet Corp. Class A (XL)
Last xl fleet corp. class a earnings: 7/31 04:30 pm
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Source: Reuters
Investor claims deal was conflicted, process flawed The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page. (Reuters) - A Pivotal Investment Corp. II investor has sued the blank-check company's board in a Delaware over its completed $1 billion merger with commercial truck-focused electric vehicle technology company XL Fleet Corp. Investor Cody Laidlaw, represented by Grant & Eisenhofer, filed a proposed class action in the Delaware Chancery Court on Monday accusing the special purpose acquisition company's leaders of perpetuating a “disturbing trend” among SPACs by completing an allegedly conflicted deal. “The Pivotal transaction failed to observe the most basic principle of Delaware corporate governance: namely, that a corporation's governance structure should be
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