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Southern District of New York Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street. (Photo: Rick Kopstein/ALM) Southern District of New York Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street. Photo: Rick Kopstein/ALM

A new lawsuit filed in Manhattan federal court targeted the private equity owners of a so-called “blank check” company, claiming that firm, a type of popular mechanism for conducting corporate mergers, had left investors holding the bag on a bad merger.

The class action complaint, filed Wednesday in the U.S. District Court for the Southern District of New York, took aim at Churchill Capital Corp. III, a special purpose acquisition vehicle, or SPAC, that merged with health care cost specialist MultiPlan Corp. in October.

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Tom McParland

Tom McParland of New York Law Journal can be contacted at [email protected] Follow him on Twitter @TMcParlandALM.

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