Litigation challenging the blank-check transaction that took Better Therapeutics Inc. public is set to end with a whimper after the deal’s architects failed to answer the investor lawsuit filed in Delaware.
Vice Chancellor Sam Glasscock III issued a default judgment Wednesday 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 two-page ruling left open the amount of any potential damages.
Mountain Crest, headquartered in South Carolina, didn’t respond to requests for comment Wednesday or after the shareholder complaint was filed ...
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