Opendoor Investor Seeks Approval of Settlement With SPAC Backer

Opendoor Technologies Inc. would benefit substantially from corporate reforms under a settlement with a venture capitalist and company leaders over the house-flipping startup’s blank-check merger, an investor said in a filing seeking final approval of the deal.

Granting final approval of the derivative suit settlement is appropriate, investor Samhita Gera told Judge Michael T. Liburdi of the US District Court for the District of Arizona in her motion filed Tuesday.

Gera’s suit targets current and former Opendoor executives and directors along with Chamath Palihapitiya, whose Social Capital VC fund backed a special purpose acquisition company that took Opendoor public.

The ...