SAN DIEGO, April 26, 2023 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Robbins LLP investigates EQRx, Inc. EQRX to determine whether certain officers and directors of EQRx have violated securities laws and the duty of loyalty to shareholders.

If you would like more information on our investigation into EQRX’s wrongdoing, click here Here.

EQRx, Inc. (EQRX) may have engaged in a conflicting SPAC litigation

EQRx International, Inc. completed a business combination with CM Life Sciences III Inc. on December 17, 2021 and now operates as EQRx, Inc. This week, Corvex Management LP agreed to pay the SEC $1 million to address allegations Conflicts of interest with certain SPACs to be resolved by the Investment Adviser were not properly disclosed.

The SEC alleged that from July 2020 to January 2021, Corvex employees were involved in the formation of three SPACs, known as CM Life Sciences Inc., CM Life Sciences II Inc., and CM Life Sciences III Inc. (now EQRx, Inc. ) are known. Individuals overseen by Corvex owned approximately half of the sponsors of the three SPACs. Because of their ownership interests, Corvex employees were entitled to receive a portion of the SPAC sponsor’s compensation once the SPACs completed their business combinations. The SEC contended that Corvex employees thus had financial incentives to urge the firm’s consulting clients to make SPAC-related investments to ensure the three SPACs complete business combinations.

The agency said that Corvex led its advisory clients to participate in $122.5 million in private investments in public equity or PIPE transactions related to the three SPACs’ definitive business combinations. Corvex didn’t disclose the conflicts of interest in April 2021 — after the three SPACs completed their IPOs.

Corvex founder Keith A. Meister and CM Life Sciences Holdings, the sponsor of one of the SPACs mentioned in the SEC order, were hit with one blow investor lawsuit in February at Delaware Chancery Courtthey claim…