Mealey's (July 13, 2018, 12:12 PM EDT) -- SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on July 13 ruled that no private right of action exists under the Investment Company Act of 1940 (ICA) for challenging “the continued validity of an ICA exemption,” affirming a federal district court's dismissal of a shareholder derivative lawsuit against Yahoo! Inc. and certain of its executive officers and directors over their investment in a Chinese retail website (UFCW Local 1500 Pension Fund v. Marissa Mayer, et al., No. 17-15435, 9th Cir.)....