Danimer Scientific Inc. got a judge’s nod to toss allegations that the company and its officers knowingly misled investors in disclosures about a 2020 special purpose acquisition company deal.
The investors who sued the bioplastics company in 2021 adequately alleged that Danimer and its executives made some misleading statements, but failed to adequately allege that they did so with any fraudulent motive or intent, Judge Hector Gonzalez said in an order in US District Court for the Eastern District of New York.
While they also adequately alleged that Danimer misrepresented the rate and degree to which its compound would biodegrade, ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.