Omnicare Raises Bar On Exec Opinion Suits In 2nd Circ.
By Ed Beeson (March 7, 2016, 10:51 PM EST) -- In its recent take on the U.S. Supreme Court's landmark Omnicare ruling, the Second Circuit rendered a decision that will make it harder to sustain securities suits over rosy corporate projections that fail to bloom, finding that companies don't have to disclose every little thing that could cut against their outlook, even if investors would find some of those facts meaningful.
The federal appeals court additionally held that reasonable investors can't claim they were misled by executives' glowing projections when there are other known factors that could explain why the projections didn't come to pass. Those findings came in an opinion...
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