2nd Circuit Upholds Dismissal Of Shareholder’s Complaint Over Board’s Flights

(September 29, 2023, 7:15 AM EDT) -- NEW YORK — After previously overturning a federal court’s dismissal of a shareholder derivative complaint filed by an investor who claimed that a financial group violated federal securities laws by making false proxy statements regarding shareholder votes, the Second Circuit U.S. Court of Appeals affirmed a second dismissal of the complaint, finding that the investor had failed to adequately plead loss causation in his amended complaint....