Adobe Beats Investor Suit Over Proposed Figma Deal, Competition

Adobe Inc. defeated allegations the tech giant misled investors about its competitiveness ahead of a since-abandoned acquisition.

The investors leading the case again failed to allege Adobe misrepresented its web design tool’s prowess and downplayed the competitive threat of Figma Inc., which it had planned to buy, Judge John G. Koeltl said Nov. 7. The US District Court for the Southern District of New York judge tossed the suit with finality, declining to accept their most recent complaint.

The shareholders didn’t sufficiently plead actionable misstatements about tool Adobe XD or that the company misrepresented its strategic plans about mergers, ...