Shareholder litigation shows mixed trends as Globalstar faces suit over FiberLight deal

摘要

Mudrick Capital Management is likely seeking facts to support a breach-of-fiduciary-duty claim against Globalstar (NYSE:GSAT), a business lawsuit expert said, as shareholder litigation has mixed trends. An activist investor in US-based Globalstar, Mudrick recently filed the suit in the Delaware Chancery Court against the satellite operator over its proposed US$1.65bn merger with metro fibre provider FiberLight, stating that the terms of the deal are "wildly unfair".