NEW YORK, Sept. 3, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Kensington Capital Acquisition Corp. ("KCAC" or the "Company") (NYSE: KCAC) in connection with KCAC's merger with QuantumScape Corporation ("QuantumScape"), a privately-held company specializing in the development of next generation solid-state lithium-metal batteries for use in electric vehicles. Under the terms of the proposed transaction, KCAC will acquire QuantumScape through a reverse merger that will result in QuantumScape becoming a publicly-listed company. The deal has a pro forma implied equity value of approximately $3.3 billion.
If you own KCAC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/kensington-capital-acquisition-corp/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether KCAC's board was truly independent and satisfied its fiduciary duties to its shareholders by conducting a fair and diligent process, agreeing to an equity split that provides fair value to KCAC shareholders, and whether all information regarding the process leading to the proposed transaction and valuation of the deal will be fully and fairly disclosed to KCAC's shareholders. This information is of particular concern as it appears that members of KCAC management may have secured employment for themselves with the combined company, calling into doubt whether the negotiations with respect to the transaction were truly arm's-length.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
