ATM Maker Diebold Nixdorf Aims To Nix Merger Stock Action

By Emilie Ruscoe (March 11, 2020, 2:20 PM EDT) -- ATM maker Diebold Nixdorf Inc. sought Tuesday to end a proposed securities class action it faces, telling a New York federal judge that a stock price decline at the heart of its investors' accusations resulted from disclosed setbacks, not fraud.

The company asked U.S. District Judge Loretta A. Preska to dismiss with prejudice lead plaintiff Indiana Laborers Pension and Welfare Funds' consolidated amended complaint accusing the company of misrepresenting prospects for a smooth merger when Diebold bought Wincor Nixdorf AG in August 2016.

"Plaintiffs allege no facts suggesting that defendants sought to swindle investors," Diebold Nixdorf and three accused executives told...

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