Volaris wins dismissal of U.S. lawsuit over 2013 offering

The Mexican low-cost airline Volaris on Wednesday won the dismissal of a lawsuit by investors who claimed they suffered losses after being misled in materials for the company's 2013 initial public offering of American depositary shares.

U.S. District Judge William Pauley in Manhattan said the plaintiffs failed to show that Volaris' alleged misstatements were material. The judge dismissed the lawsuit with prejudice, meaning it cannot be brought again.