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A blank-check company faces a lawsuit on behalf of its shareholders over a $16.1 billion deal to take United Wholesale Mortgage public. So report The Mortgage Note and Law360.
Lawyers for Richard Delman, an investor in the special purpose acquisition company Gores Holdings IV, claim that the SPAC’s leaders breached their fiduciary duty with the deal, which was announced in September 2020.
Spokespeople for Gores and UWM didn’t immediately respond to Law360’s requests for comment.
