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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.