Hub Cyber Security Ltd. must continue to defend most claims that the company misrepresented key issues and concealed embezzlement prior to a blank-check merger that brought it public in the US.
Hub investors adequately alleged misstatements in the registration statement and prospectus for the Israeli company’s merger with a special purpose acquisition company, Judge Arun Subramanian said Thursday for the US District Court for the Southern District of New York.
The suit is among many faced by companies formed through such de-SPAC, or blank-check, mergers. Numerous companies that went public through that method have faltered following the deals’ peak in ...
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