Gores Guggenheim, Inc. Settlement

Robbins LLP secured $25 million for the class of former Gores Guggenheim, Inc. stockholders – one of the largest SPAC settlements to date.  Robbins LLP served as co-lead counsel on a behalf of a class of Gores Guggenheim stockholders who were entitled to redeem their shares of stock in connection with the Company's merger with Polestar but did not. The plaintiffs alleged that the defendants breached their fiduciary duties connection with the merger. Specifically, plaintiffs alleged that the Proxy in support of the merger contained materially false and misleading representations about Polestar's value and prospects, including misleading financial projections for the 2022 through 2025 fiscal years. Despite allegedly knowing that Polestar was expected to substantially underperform the Proxy projections, the board of Gores Guggenheim went through with the merger.

May v. Gores Guggenheim Sponsor LLC, C.A. No. 2023-0863-LWW (Del. Ch. May 18, 2026).