Ideanomics Defeats Investor Suit Over Electric Vehicle Business

Ideanomics Inc. is free of an investor suit over its electric vehicle business after a federal judge in New York ruled Tuesday that the complaint fell short of alleging intentional deception or linking the company’s actions to stock losses.

Investors say the company, whose past focuses include cryptocurrency and video on demand, misled them about its business aimed at easing the adoption of commercial electronic vehicles. Their complaint plausibly alleges some misleading statements, but didn’t adequately allege Ideanomics acted intentionally or caused their losses, the U.S. District Court for the Southern District of New York said.

The investors based ...