Grab Agrees to $80 Million Settlement in Suit Over SPAC Merger

Grab Holdings Ltd. and shareholders agreed to settle for $80 million in a case alleging the rideshare and delivery app operator omitted key information in its SPAC merger, the plaintiffs told the federal court.

Investors want Judge Jennifer L. Rochon‘s preliminary approval in the US District Court for the Southern District of New York, writing that the sum was “well above the range of the average recovery” in a memorandum supporting the agreement docketed on Jan. 2. They estimated it would be between 8.9% and 13.4% of the maximum likely recoverable damages if the shareholders prevailed in trial, ...