Lack Of Loss Causation Showing Dooms Investor Suit Against Uber On Appeal

Mealey's (May 21, 2021, 1:44 PM EDT) -- ATLANTA — A federal district court did not err in dismissing a shareholder’s state securities law claim against technology startup Uber Technologies Inc. and its CEO with prejudice for failure to sufficiently plead loss causation because the shareholder failed to sufficiently show that the defendants’ alleged actions or omissions caused the company’s stock price to drop when revealed, an 11th Circuit U.S. Court of Appeals panel ruled on May 19....