PHILADELPHIA — A stockholder has filed a class-action lawsuit against CardConnect Corp and its board of directors, alleging violations of federal law stemming from a merger proposal.

Louis Scarantino filed a complaint on behalf of all others similarly situated on June 13 in the U.S. District Court for the Eastern District of Pennsylvania against the defendants over proxy statements they issued regarding the proposed merger. Scarantino alleges a violation of the Securities Exchange Act of 1934 occurred.

According to the complaint, the plaintiff alleges that he is due damages due to alleged false information given to him regarding the merger. The plaintiff holds CardConnect Corp., Jeffrey Shanahan, Richard Garman, Christopher Winship, Peter Burns, Toos N. Daruvala, Ronald L. Taylor, First Date Corp. and Minglewood Merger Sub Inc. responsible because the defendants allegedly issued false and misleading statements to the plaintiff.

The plaintiff requests a trial by jury and seeks enjoin the defendant, rescissory damages, court costs and any further relief the court grants. He is represented by Richard A. Maniskas of RM Law, P.C. in Berwyn , Penn.

U.S. District Court for the Eastern District of Pennsylvania Case number 2:17-cv-02677-MMB 

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