Matterport’s Planned Sale to CoStar Draws Stock Investor Lawsuit

Spatial mapping company Matterport Inc.‘s plans to sell itself to real estate and data firm CoStar Group Inc. unfairly benefits Matterport insiders over common stockholders, an investor lawsuit filed Monday said.

The proposed acquisition announced this spring failed to adequately disclose the employment status of Matterport’s board of directors after the transaction, who could potentially receive large multi-million dollar “golden parachutes” if let go, according to the complaint.

If acquired by CoStar, company insiders who own company options would also gain access ...