by Matthew Russell Lee, Patreon Book Substack
SDNY COURTHOUSE, March 14 – Kensington Capital was formed as a SPAC in 2020, with a focus on the automotive sector.
In September 2020 it entered into an agreement to combine with QuantumScape Corporation, a make of lithium batteries for electric vehicles.
A dispute arose about the exercise of warrants, and a lawsuit was filed, then removed to the U.S. District Court for the Southern District of New York.
On March 14, 2024 still relatively new SDNY District Judge Margaret M. Garnett convened the parties to rule on motions in limine and Daubert (expert) motions, and to ask them questions. Inner City Press was there, the only media in the courtroom.
Professor Merritt Fox, she ruled, will not be allowed to opine if disclosures were correct or misleading. She surmised that at the upcoming trial, it will probably not end up being disputed that the plaintiffs were and are sophisticated investors.
Defense counsel asked if the trial would be in Judge Garnett's 40 Foley Square courtroom - previously that of now 2d Circuit Judge Nathan - or in the ceremonial courtroom in 500 Pearl Street. (That is reserved for the 9/11 cases, and celebrations of long time judges).
Judge Garnett said she didn't think there'd be that much media interest in the case, though, she said, she saw a familiar face in the gallery.
Inner City Press will continue to follow this and other cases.
This is Jakubiak v. QuantumScape Corporation. et al., 20-cv-10842 (Garnett)
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