Former Nanobeak Biotech CEO Gets Computer Fraud Lawsuit Axed

A former biotech company CEO won dismissal of a computer fraud lawsuit after a New York federal judge found the company didn’t sufficiently show a financial loss stemming from his alleged misconduct.

Nanobeak Biotech Inc. failed to show how the ex-CEO’s actions constituted a loss in excess of $5,000, the threshold necessary to bring a claim under the Computer Fraud and Abuse Act, Judge Louis L. Stanton wrote in an opinion filed Tuesday in the U.S. District Court for the Southern District of New York.

Attorneys representing Nanobeak didn’t immediately respond to a request for comment.

The company sued former ...