ATM Biz Escapes Investor Suit Over Merger Results For Now
By Sierra Jackson (March 31, 2021, 10:16 PM EDT) -- A New York federal judge on Tuesday agreed to drop a proposed securities class action against ATM maker Diebold Nixdorf because the suing investors failed to show how the company intentionally misled them about the success of a nearly $2 billion acquisition in 2015.
Senior U.S. District Judge Loretta A. Preska dismissed the suit against Diebold Nixdorf Inc. without prejudice, giving the investors, led by Indiana Laborers Pension and Welfare funds, another chance to revive the case.
"DN undertook a merger that proved to be more complex, and less lucrative, than its senior executives initially thought it would be," Judge Preska...
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