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Lawsuit for Investors in GO Acquisition Corp. (NYSE: GOAC) shares announced by Shareholders Foundation

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Shareholders Foundation, Inc.
·2 min read
In this article:
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SAN DIEGO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed by an investor in GO Acquisition Corp. (NYSE: GOAC).

Investors, who purchased shares of GO Acquisition Corp. and continue to hold any of their NYSE: GOAC shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 20, 2021, a lawsuit was filed against GO Acquisition Corp. as a nominal defendant, certain directors of GO Acquisition Corp., and others. The plaintiff alleges violations against the Investment Company Act of 1940 (“ICA”).

The plaintiff claims that GO Acquisition Corp. is an investment company under the ICA because its primary business is to invest in securities, since investing in securities is all the Company has ever done.

Furthermore, the plaintiff says that the Defendants have used their dominance over GO Acquisition Corp. to extract tremendous value at the direct expense of public shareholders and in violation of federal law.

The plaintiff alleges that rather than pay reasonable fees and structure them in the standardized and transparent ways required by the law, the Company has paid certain defendants in a special class of shares, unavailable to the general public, that gives Defendants nearly total control of the Company as well as an economic interest equal to at least 20% of the Company’s outstanding equity—and possibly much more. The plaintiff says that those certain Defendants received all this for a purchase price of just $25,000 and that the potential value of this compensation could exceed $100 million.

Those who purchased NYSE: GOAC shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.


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