Western Union Beats Attempt to Revive Investors’ Compliance Suit

Western Union Co. investors can’t revive a would-be class suit accusing the money transmitter of misleading them about its compliance with anti-money laundering laws, the Tenth Circuit said Tuesday.

Investors sued after Western Union paid $586 million to end federal investigations into problems with its AML and anti-fraud programs in January 2017. The district court correctly ruled that the investors hadn’t pleaded “particularized facts giving rise to the strong inference” of intent necessary in securities suits, the U.S. Court of Appeals for the Tenth Circuit said.

The appeals court affirmed the U.S. District Court for the District of Colorado’s ...