Its got to leave, though . I think so. Conceptually you would hope someone could reform. But when you look at what hes done, the signs arent good. He hasnt changed his pay. They give an indication of a ceo that doesnt care about shareholders. Thank you for coming in today. Make sure to join us tomorrow. Right now its time for squawk on the street. Good tuesday morning. Hope you had a great threeday weekend. Welcome to squawk on the street. Im carl quintanilla, with melissa lee, jim cramer and david faber here. Fiveyear highs last week, europe had strong Investor Confidence numbers in germany. But actually, was disappointed in the bank of japan. Which well wait until next year before it targets a new inflation rate of 2 . Our road map begins with what cramer calls the most important earnings week of the year for the quarter at least. A parade of dow components starting with verizon. A 12 cents miss dragged down by superstorm sandy. Dupont 2013, a cautious year with the slow growth world
What The Dickeys Would Have Done Differently
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Liability for SPAC Flops: Waitr Could Be Test Case for Disgruntled Investor Lawsuits
Waitr Inc. never had the resources of rivals Grubhub Inc. and UberEats. Yet in November 2018 the online food ordering and delivery business went public through a merger with blank-check firm Landcadia Holdings Inc.
Landcadia had some powerful names behind it. Tilman Fertitta, a billionaire restaurateur, and Richard Handler, the chief executive officer of Jefferies Financial Group Inc., had raised $250 million in backing for Landcadia so that the special purpose acquisition company, or SPAC, could find and take public a promising startup like Waitr.
But Waitr turned out to be a disappointment. Its shares plummeted as it lost about 96% of its market value in 2019, down from a high of almost $1 billion. That triggered a class-action lawsuit claiming that Fertitta and Handler misled shareholders about the risks of Waitr’s business plan but pushed ahead with announcing their merger two weeks before L