Legal Opinion
Indiana State District Council of Laborers v. Omnicare, Inc.
Court of Appeals for the Sixth Circuit
Decided October 21, 2009No. 07-6379PublishedCited by 80 opinions
1Opinion of the Court
OPINION
RICHARD MILLS, District Judge.
Seizing on a few vague statements from management, the plaintiffs try to turn bad corporate news into a securities class action.
Because the Private Securities Litigation Reform Act (“PSLRA”) forbids such alchemy, we generally affirm the district court’s dismissal, although we reverse its disposition regarding the claims brought under the Securities Act of 1933, 15 U.S.C. § 77k.
I. BACKGROUND
A. General Information
Defendant Omnicare, Inc. is the nation’s largest provider of pharmaceutical care for the elderly, handling medication distribution for nearly 1.5…
2Cases cited27 opinions
- Tellabs, Inc. v. Makor Issues & Rights, Ltd.Supreme Court of the United States · 2007
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Dura Pharmaceuticals, Inc. v. BroudoSupreme Court of the United States · 2005
- Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc.Supreme Court of the United States · 2008
- Shaw v. Digital Equipment Corp.Court of Appeals for the First Circuit · 1996
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3Cited by80 opinions
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- In Re Level 3 Communications, Inc. Securities LitigationCourt of Appeals for the Tenth Circuit · 2012
- Llewellyn-Jones v. Metro Property Group, LLCDistrict Court, E.D. Michigan · 2014
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