Link Motion Investor Advances Suit Over Claimed Tech Giant Stake

A Link Motion Inc. investor can proceed with New York state fraud claims over the Chinese software company’s statements about a computer corporation’s purported investment in its subsidiaries, a federal court ruled.

But the investor, retiree Wayne Baliga, can’t maintain his common law fraud claim as it relates to holding and buying more Link Motion American depositary shares following a short-seller’s report discrediting the acquisition, Judge Victor Marrero said Wednessday. Marrero’s ruling in the US District Court for the Southern District of New York adopted a magistrate judge’s recommendation over Link Motion’s objection.

• Baliga alleges Link Motion and its founder, ...