Cantor, Lutnick Pay $12 Million to Settle View Inc. SPAC Case

Cantor Fitzgerald LP, billionaire chief Howard Lutnick, and other architects of View Inc.'s blank-check merger agreed to pay $12 million to end litigation challenging the deal.

The settlement disclosed Thursday would resolve shareholder claims targeting the 2021 transaction, which took the “smart glass” maker public by combining it with a special purpose acquisition company.

The lawsuit, filed in November, said Lutnick and the others were driven by lopsided incentives to dupe the SPAC’s investors into a doomed deal that gave insiders a windfall.

The case was one of scores filed in Delaware’s Chancery Court over SPAC mergers since ...