Okada Manila Seeks to End Merger, Cites SPAC Fraud
Okada Manila's parent company is pursuing termination of its merger deal for a U.S. stock listing, accusing its SPAC partner, 26 Capital Acquisition Corp., of fraud and violations of U.S. securities laws. The company claims breaches of fiduciary duty and misconduct during the deal process. Legal proceedings are underway as the casino giant seeks to exit the troubled agreement.
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