Burbige v. ATI Physical Therapy, Inc.

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION PHOENIX INSURANCE CO., LTD., and ) THE PHOENIX PENSION & PROVIDENT ) FUNDS, ) ) Plaintiffs, ) No. 1:21-CV-04349 ) v. ) ) Judge Edmond E. Chang ATI PHYSICAL THERAPY, INC. f/k/a ) FORTRESS VALUE ACQUISITION CORP. ) II, et al., ) ) Defendants. ) MEMORANDUM OPINION AND ORDER In June 2021, a special-purpose acquisition company (commonly known in the financial industry as a SPAC) called Fortress Value Acquisition Corp. II (FVAC) com- pleted a merger with ATI Physical Therapy, an until-then privately held outpatient…