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SPAC Investors Can't Sue Lucid Over Merger, 9th Circ. Says

By Lauren Berg ( August 8, 2024, 10:25 PM EDT) -- The Ninth Circuit on Thursday refused to revive investors' proposed class action alleging that Lucid duped them into buying stock in a special purpose acquisition company ahead of the electric-vehicle maker's $11.75 billion merger, saying an acquiring company's investors can't sue the target company over its alleged misstatements before the merger....

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