Better Therapeutics SPAC Deal Suit Ends in $1 Million Settlement

Investor claims over a blank-check deal that took Better Therapeutics Inc. public will be resolved with a $1 million cash settlement, a Delaware judge ruled Friday.

The Delaware Chancery Court had previously allowed investor John Solak to advance his lawsuit claiming the transaction created a windfall for Mountain Crest Capital LLC insiders. Vice Chancellor Bonnie W. David accepted the settlement after a hearing in Georgetown, Del., according to a docket update.

David also approved a $325,000 fee award sought by Solak’s attorneys from Cooch & Taylor PA and Newman Ferrara LLP.

Mountain Crest, a serial SPAC sponsor, had argued ...