Greenland Acquisition Corporation Announces Dismissal of Purported Class Action Lawsuit
Global Lights Acquisition Corp (GLAC)
Company Research
Source: PR Newswire
NEW YORK, Oct. 17, 2019 /PRNewswire/ -- Greenland Acquisition Corporation (NASDAQ: GLAC) (the "Company" or "Greenland") announced today that it has entered into a confidential memorandum of understanding (the "MOU") with the plaintiff and other parties in a purported class action, captioned Wheby v. Greenland Acquisition Corporation, et al., Case No. 19-1758-MN (D. Del.), which was filed on September 19, 2019, against the Company and certain individuals (the "Action"). Pursuant to the MOU, a stipulation and order of dismissal of the Action was filed by the plaintiff in the United States District Court for the District of Delaware on October 14, 2019, which was approved and entered by the court on October 15, 2019."We are pleased that the case has been dismissed and we remain focused on driving long-term value for our shareholders by working toward advancing the proposed business combination with Zhongchai Holding (Hong Kong) Limited," stated Yanming Liu, Chief Executive Officer and Ch
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