Drug Co. Slapped With Securities Fraud Class Action

Law360, New York (February 3, 2006, 12:00 AM EST) -- Omnicare Inc., a leading provider of pharmaceutical care for the elderly, has been hit with a securities fraud class action suit filed by Lerach Coughlin Stoia Geller Rudman & Robbins LLP, claiming that the company artificially inflated its earnings by engaging in improper generic drug substitution.

The suit, filed in a Kentucky district court by the Indiana State District Council of Laborers and Hod Carriers Pension and Welfare Fund, an institutional investor, alleges that Omnicare made false and misleading statements regarding its business and prospects in...
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