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Omnicare Cited In Tossing Of Deloitte Investor Suit

Law360, New York (April 1, 2015, 8:59 PM EDT) -- The U.S. Supreme Court’s recent Omnicare decision has factored into a New York federal judge’s Tuesday decision to ax with prejudice an investor lawsuit against Deloitte & Touche LLP and its Shanghai unit over their audits of a China-based education company whose former executives allegedly perpetrated a massive offering fraud.

The shareholder suit, filed in February 2013, accused the auditing giant and its Deloitte Touche Tohmatsu CPA Ltd. unit of signing off on bogus financial statements made by ChinaCast Education Corp., whose former chief executive and...
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