Livent Sued Over $10.6 Billion Merger With Lithium Rival Allkem

An investor is suing Livent Corp. over fears that its planned $10.6 billion merger with rival lithium mining giant Allkem Ltd.—approved by shareholders of both companies Tuesday—may favor insiders jockeying for position after the transaction.

The lawsuit, filed in Delaware, seeks internal files to investigate claims that Livent’s leaders prioritized their own equity and roles at the combined company, using what should have been the all-stock merger’s most significant terms—including the exchange ratio—as “bargaining chips” to secure better side deals for themselves.

The stockholder leading the case is “justifiably concerned that the proposed transaction is not the result of a ...