Court Tosses Omnicom Shareholder Suit

Law360, New York (February 6, 2008, 12:00 AM EST) -- A New York court has stamped out the last remnants of a shareholder derivative lawsuit against advertising giant Omnicom Group Inc., the company announced Tuesday.

The Appellate Division of the New York State Supreme Court denied the plaintiffs' motion to reargue or appeal a September decision which had granted Omnicom's motion to dismiss the lawsuit.

Eric L. Zagar, partner at Schiffrin Barroway Topaz & Kessler LLP, who represented the shareholder plaintiffs in the case, declined comment Wednesday.

On Sept. 25, 2007, the appellate court had reversed...
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