Auction to Cover ICore $2 Million SPAC Finder’s Fee to Proceed

A health care software provider can’t quickly stop an auction of its assets over an unpaid $2 million finder’s fee, a federal judge said.

iCore Midco Inc. and parent iCoreConnect Inc. didn’t adequately allege intent or loss tied to securities fraud, Judge Julie S. Sneed said. iCoreConnect’s internal emails didn’t help in sufficiently pleading that PIGI Solutions LLC acted as an unregistered broker or dealer when it helped iCore go public by merging with a special purpose acquisition company, the US District Court for the Middle District of Florida judge said.

Sneed denied their request for a temporary restraining ...