9th Circuit: Shareholders Of Electric Vehicle Maker Lack Standing For Claims

(August 22, 2024, 3:52 PM EDT) -- SAN FRANCISCO — The Ninth Circuit U.S. Court of Appeals affirmed a California federal judge’s decision to dismiss a putative class complaint brought by investors alleging that an electric car company and the special purpose acquisition company (SPAC) that acquired it misled investors; unlike the judge who dismissed on the claims on their merits, though, the panel held that the investors lacked standing to bring their claims in the first place....