Owlet Investors’ Baby Sock Suit Shorn of Pre-Merger Statements

The investor leading a suit against Owlet Inc. for allegedly making misleading statements about its Smart Sock baby monitoring product lacks standing to assert claims over statements before the company went public, a federal court ruled.

A recent appeals court decision compels that result, Judge Fernando L. Aenlle-Rocha said Thursday for the US District Court for the Central District of California. The judge granted Owlet’s request for reconsideration of a previous ruling allowing all the claims against the monitor maker to proceed.

• The suit alleges Owlet misled investors by saying it didn’t need the Food and Drug Administration to approve ...