Omnicare Dodges Investor Action Over Kickback Claims

Law360, New York (February 14, 2012, 1:25 PM EST) -- Omnicare Inc. on Monday won the dismissal of a proposed class action in Kentucky federal court claiming the drug provider artificially inflated its stock price by concealing an alleged kickback scheme.

U.S. District Judge William O. Bertelsman granted Omnicare’s motion to throw out the suit, which was filed by investors in a December 2005 public offering by the Covington, Ky.-based company, which provides drugs for the elderly.

The suit claimed Omnicare and four former top executives failed to tell investors about kickback arrangements in which Omnicare...
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