Matterport Sued for Allegedly Allowing Self-Dealing by Insiders

Investors sued Matterport Inc., challenging a clause in the 3D technology company’s charter that allegedly gives insiders blanket permission to steer corporate opportunities to themselves.

The lawsuit, filed Wednesday, targets a provision that waives the duties of board members and executives under the so-called corporate opportunity doctrine, eliminating their obligation to give Matterport a first shot at any deals that come to their attention through their work with the company.

The proposed class action is the second recent case in Delaware’s Chancery Court taking aim at a similar charter provision, following a virtually identical complaint filed by the same ...