Motorsport Games Beats Share-Sale Suit Crying Securities Fraud

Motorsport Games Inc. escaped a securities fraud lawsuit brought by an ex-stakeholder of a NASCAR game-maker that alleged it concealed how well sales of a new game would do before selling its shares.

All of Innovate 2 Corp.‘s allegations failed because it didn’t demonstrate any misrepresentations or omissions surrounding a racing game’s sales data or Motorsport’s financial status, Judge Stephanos Bibas, sitting for the US District Court for the District of Delaware, said in granting Motorsport’s bid for summary judgment on Wednesday.

“One company sold its shares in another for what, in hindsight, appears to be less than it ...