The U.S. Court of Appeals for the Sixth Circuit on Monday upheld the dismissal of a lawsuit accusing tech company Root Inc. of violating federal securities laws, but a concurring judge called the pleading standard applied by his colleagues “particularly perplexing” and highlighted a circuit split on the legal issue.
“Hopefully, a future panel of this Court, or the Supreme Court, can clarify the law along the lines described here, so that the majority’s untenable views are not sustained,” Judge Eric Clay wrote.
