DMC Investors Drop Suit Against Leaders Over Decking Unit Sales

DMC Global Inc. investors have dropped their lawsuit alleging the manufacturing company’s board and top executives caused a $142 million goodwill impairment charge tied to weak decking and railing sales.

The US District Court for the District of Colorado approved the voluntary dismissal Friday. The investors had told Chief Judge Daniel D. Domenico the previous day that it’s appropriate to drop the suit on behalf of DMC because a parallel proposed securities class action was recently dismissed with finality. No settlement is involved, they said.

• Michael Lewis and Lee Runey alleged DMC’s stock suffered a series of shocks as news ...