#spac-merger

#spac-merger

According to the complaint, Komissarov is alleged to have "planned and executed a revenue scam" with DiMatteo, Clemenson, and Dickinson, which allegedly violated Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(a) of the Exchange Act of 1934, along with related SEC rules. Customer data was central to the scam charges and involved what the regulator calls "useless customer data" that was then cycled through a number of multi-million-dollar transactions.

This year, the company announced it would acquire production facilities from bankrupt electric truck maker Nikola, as well as management changes, including the chief executive stepping down and the chief operating officer becoming interim CEO. Actor Timothée Chalamet was named its first-ever Global Brand Ambassador, and Lucid made a robotaxi deal with Uber. Lucid effected a 1-for-10 reverse stock split, and it announced a major collaboration with AI chipmaker Nvidia Corp. ( NASDAQ: NVDA).

Einride said Wednesday it plans to go public via a merger with a special purpose acquisition company, just six weeks after the Swedish electric and autonomous truck startup raised $100 million from investors. The SPAC merger with Legato Merger Corp. values Einride at $1.8 billion in pre-money equity, according to the companies. The deal is expected to generate about $219 million in gross proceeds, a figure that doesn't take into account any redemption of Legato's public shares.

Former Cano Health CEO Marlow Hernandez is facing a jury trial this week over allegations of fraud and corruption. The trial, set to begin on Monday, will examine claims that Hernandez used his position to illicitly enrich himself and his family - actions the plaintiffs say helped drive Cano into bankruptcy. This will be the first time Hernandez has faced trial for his alleged misconduct at Cano, which he founded in 2009.

On Tuesday, Crypto.com and Trump Media & Technology Group, owner of President Donald Trump's Truth Social social media network, announced their intention "to launch a rewards system on the Truth Social and Truth+ platforms"-using Crypto.com's digital wallet and Cronos (CRO) digital currency as a utility token. The move marks yet another example of the president's ties to the crypto industry, as Trump has created a crypto-friendly regulatory environment during his second term.