Lucid Investors Ask 9th Circ. To Undo 'Bright-Line Test' Ruling
By Katryna Perera ( October 27, 2023, 11:13 PM EDT) -- A proposed class of Lucid Group Inc. investors has urged the Ninth Circuit to revive their suit alleging the electric-vehicle company duped them in relation to its $11 billion merger with a special-purpose acquisition company, arguing that a California federal court erred by creating a "bright-line test" to determine if the suit's alleged misstatements were material to shareholders....
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