Omnicare: The Other Securities Case to be Worried About

In the securities law arena, all eyes are currently focused on the Halliburton case, and whether the U.S. Supreme Court will scrap or modify the “fraud on the market” presumption for reliance in connection with claims brought under the Securities Exchange Act of 1934.

However, the high court also recently agreed to hear a case involving an important issue for Section 11 claims brought under the Securities Act of 1933. In March 2014, the Supreme Court granted certiorari in the case of Omnicare Inc. v. Laborers District Council, which was recently decided by the U.S. Court of Appeals for the Sixth Circuit.

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Topics:  Appeals, Certiorari, Fraud-on-the-Market, Omnicare, Presumption of Reliance, SCOTUS, Section 11, Securities Exchange Act

Published In: Civil Procedure Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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