Moelis, Archer Aviation Must Face Some Claims Over SPAC Deal

Ken Moelis and other architects of the merger that took Archer Aviation Inc. public must defend against stockholder allegations that the paperwork they filed misrepresented the value of its shares.

Still, the Delaware Chancery Court on Monday narrowed claims brought by investors against the billionaire, his investment bank, Archer, and other backers of the blank-check transaction, tossing aiding and abetting claims.

Vice Chancellor Lori W. Will dismissed from the suit one of the directors, Todd Lemkin, of the special purpose acquisition company that brought Archer public. Will said in her bench ruling Monday there will be no reargument while allowing ...