Better Therapeutics SPAC Case Revived After Deal Sponsors Appear

A court fight over the blank-check deal that took Better Therapeutics Inc. public is back on after the transaction’s architects belatedly responded to the Delaware lawsuit, saying they hadn’t been aware of it.

Vice Chancellor Sam Glasscock III on Tuesday vacated his default judgment against Mountain Crest Capital LLC affiliates who engineered the $187 million merger between a special purpose acquisition company and Better Therapeutics, a biotech business focused on cardiometabolic diseases.

The shareholder leading the litigation had consented to the request to have the case reinstated after Mountain Crest and several of its principals said they were never served ...