7th Circuit: No Enforceable Contract To Support Company’s Securities Claims

(August 30, 2024, 10:41 AM EDT) -- CHICAGO — A panel of the Seventh Circuit U.S. Court of Appeals held that an Illinois federal judge was correct to dismiss claims of securities fraud and other claims brought by a company against a software startup, holding that the plaintiff company failed to show that an enforceable agreement regarding an exchange of ownership interest for an investment existed....