Okada Manila Parents Seek SPAC Merger Termination Over Fraud Allegations
Okada Manila's operating entities have filed counterclaims against US-based SPAC firm 26 Capital Acquisition Corp in Delaware Court of Chancery, seeking to terminate a planned merger agreement intended for a NASDAQ listing. The counterclaims allege fraud, breaches of US securities laws, and violations of the merger agreement terms by 26 Capital and its founder, Jason Ader. The dispute centers on accusations of misleading statements and unauthorized use of confidential information by Ader, complicating efforts to finalize the merger. Read more here
https://asgam.com/2023/03/19/o....kada-manila-parents-
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