Tishman Speyer Properties LP affiliates, including billionaire co-founder Jerry Speyer, were hit with shareholder litigation Tuesday challenging the blank-check merger they engineered between smart lock startup Latch Inc. and a shell company.
The lawsuit also targets the real estate giant’s CEO, Rob Speyer, and other backers of the special purpose acquisition company that combined with Latch to take it public. It accuses them of duping investors into a disastrous deal because the transaction’s lopsided structure gave them a huge windfall even if non-insiders were wiped out.
The proposed class action in Delaware’s Chancery Court is the latest in a wave ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.