The operator of the Nasdaq stock exchange was accused of discriminatory conduct against minority-owned businesses in a lawsuit filed in the Eastern District of New York, with the plaintiff arguing that a proposed SPAC transaction ended in the face of disparate treatment.
Through its attorneys at Bradford Edwards, plaintiff Trident Capital Group Fund, an investor connected to the proposed business combination, accused Nasdaq in a lawsuit filed on March 28 of engaging in “a succession of targeted, discriminatory and capricious actions effectively rewrote the rules by which the SPAC market had understood a business combination.”
