Pennsylvania court dismisses investor lawsuit against Evolution
A US District Court in Pennsylvania dismissed with prejudice an investor lawsuit against Evolution AB on 5 September 2023, according to the court ruling described in reports. The judge found that the plaintiffs had not established personal jurisdiction in Pennsylvania or grounds to treat Evolution’s American subsidiaries as its alter egos. The 30-day appeal period expired, ending the case.
The dismissal ends this securities case against Evolution, while preserving the distinction between the company and its US subsidiaries.