Omnicare Investors Drop High Court Appeal

Law360, New York (November 9, 2010, 5:55 PM EST) -- Investors suing Omnicare Inc. over alleged misleading statements and accounting problems have dropped their appeal to the U.S. Supreme Court and will instead seek to amend their complaint in the district court.

The plaintiffs were appealing an October 2009 decision by the U.S. Court of Appeals for the Sixth Circuit dismissing their class action. But in a motion filed Friday and granted by the high court, the plaintiffs asked for their appeal to be dismissed.

John Schreiber, a partner with Dewey & LeBoeuf representing Omnicare, said...
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