The former CEOs of the movie theater subscription service MoviePass and its parent company on Thursday won the dismissal of some but not all claims in the U.S. Securities and Exchange Commission’s lawsuit against them, with a Manhattan federal judge ruling that the SEC failed to allege that the executives benefitted from any alleged fraud.
U.S. District Judge Katherine Polk Failla of the Southern District of New York nevertheless allowed the SEC to proceed with several of its claims and granted the commission leave to amend, noting that the dismissed claims were dismissed without prejudice.
