Volta Gets Investors’ Amended Securities Fraud Complaint Tossed

Volta Inc. isn’t liable for making allegedly fraudulent statements to its investors about its business, a federal court said Monday.

The case was previously dismissed by Judge Jon S. Tigar of the US District Court for the Northern District of California, but he gave the investors an opportunity to file an amended complaint. That complaint also failed to adequately state securities claims against the company, which places charging stations for electric cars in parking lots, he said.

Volta said that it was worth $1.4 billion dollars, but after two of its officers left, it was sold to Shell Plc for ...