US investors in Evolution AB can’t proceed with a proposed class action alleging the Swedish online gambling giant misrepresented its exposure to regulatory action in some markets, a federal court ruled.
The investors failed to establish that the court has personal jurisdiction over the holding company, Judge Mia R. Perez said Sept. 5 for the US District Court for the Eastern District of Pennsylvania.
The investors alleged regulators targeted Evolution business customers in some countries, including Australia and Sweden, for violating gambling laws. The investors say they hold American depositary shares in the Nasdaq Stockholm-listed company, and sustained losses on …
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