A federal court dismissed a securities lawsuit against Ford Motor Co., when a judge ruled that the car manufacturer did not violate the Securities Exchange Act of 1934 because it was the New York Stock Exchange that determined the circumstances in which investors who sold securities in a trust established by Ford could receive distributions.
Judge Leonard P. Stark of the U.S. District Court for the District of Delaware issued the opinion on April 4 in the class action suit,Gold v. Ford .
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