The Latest SPAC News and Rumors: January 12, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid wins dismissal of lawsuit that claimed it defrauded investors, and DiaCarta receives FDA Emergency Use Authorization for monkeypox test kit
Lucid beats lawsuits claiming it defrauded SPAC investors about production outlook
Lucid Group Inc (NASDAQ:LCID) on Wednesday won the dismissal of a lawsuit accusing the luxury electric car maker of defrauding investors in the special-purpose acquisition company that helped take it public, by significantly overstating its production outlook.
U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California said that despite media speculation, Churchill Capital Corp IV shareholders who brought the proposed class action had no reason to know in early 2021 that the SPAC would merge with Lucid.
READDiaCarta Receives U.S. FDA Emergency Use Authorization for its Monkeypox Test Kit
DiaCarta, Ltd. (“DiaCarta”), a precision molecular diagnostics company, today announced that the U.S. Food and Drug Administration (FDA) granted Emergency Use Authorization (EUA) for its QuantiVirusTM MPXV test, which is a PCR test for the qualitative detection of DNA from monkeypox virus (MPXV) in lesion swabs collected from individuals suspected of monkeypox infection.
On October 14, 2022, DiaCarta and HH&L Acquisition Co. (NYSE: HHLA), a special purpose acquisition corporation, entered into a definitive business combination agreement that would result in DiaCarta becoming a public company.
READ