Former Prime Minister Sir John Key has been named in a class action alleging insider trading in the US.
Directors and managers of the California-based Palo Alto Networks cybersecurity company are being sued by shareholders.
Sir John is one of 12 people named in documents filed in the US District Court on April 19 this year.
In a statement, Sir John told Newshub he has been named "in a series of copycat lawsuits" based on "unproven allegations" regarding the second-quarter earnings update.
"In my view there is no merit to any of the claims," he said.
"Palo Alto Networks has very strict share trading policies for its senior management and directors inline with SEC guidelines.
"At all times I have followed these rules.
"As this matter may well be before the courts I will not be making any further comments."
