6th Circ. Puts Omnicare Securities Suit On Life Support

Law360, New York (October 21, 2009, 8:12 PM EDT) -- A federal appeals court has mostly affirmed the dismissal of a securities class action brought by investors in pharmaceutical distribution company Omnicare Inc., remanding a single claim to a district court for reconsideration.

The U.S. Court of Appeals for the Sixth Circuit on Wednesday sided with the company on most issues in a class action led by the Laborers District Council Construction Industry Pension Fund.

Also named in the suit were Omnicare President Joel Gemunder and senior vice presidents David Froesel and Cheryl Hodges, as well...
To view the full article, register now.