Omnicare Raises Bar On Exec Opinion Suits In 2nd Circ.
Law360, New York (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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!