Judge: No Misleading Claims About Stock Conversion In Premerger Statements

(July 30, 2024, 2:08 PM EDT) -- NEW YORK — A New York federal judge dismissed a putative class complaint brought by former employees of a satellite manufacturer who claimed that the company and certain of its executives issued misleading statements in violation of federal securities laws about the company’s merger with a special purpose acquisition company (SPAC), with the judge holding that the employees failed to show that the company made misleading statements about the redemption rate of shares after the merger....