Berkshire Grey Hit With Lawsuits Over $375 Million SoftBank Deal

July 19, 2023, 7:07 PM UTC

A pair of investors sued supply-chain automation company Berkshire Grey Inc. in Delaware ahead of a shareholder vote to authorize its planned $375 million sale to SoftBank Group Corp.

The separate lawsuits, filed Tuesday, concern the buyout by SoftBank—which owns 27% of the robotics business, according to one of the court filings—and Berkshire’s earlier public listing via merger with a special purpose acquisition company. Both cases involve preliminary claims by investors seeking access to Berkshire’s corporate records.

One of the shareholder complaints requests documents shedding light on concerns that the $1.40-a-share SoftBank transaction may represent an attempt “to capitalize on ...

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