High Court Agrees To Hear Omnicare Securities Case

Law360, Washington (March 3, 2014, 11:40 AM EST) -- The U.S. Supreme Court on Monday agreed to review a Sixth Circuit decision reviving a proposed class action claiming Omnicare Inc. artificially inflated its stock price by concealing a kickback scheme, in a case concerning the liability of corporate executives who express opinions to company investors that turn out to be false.

The high court will review the Sixth Circuit's holding that an action brought under Section 11 of the Securities Act of 1933 doesn't have to show a defendant knew false statements were being made...
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