Omnicare v Laborers District Council Construction Industry Pension Fund

SIFMA submitted an Amicus “Friend of the Court” Brief

Court:  

U.S. Supreme Court

Amicus Issues:  

Whether, for purposes of a claim under Section 11 of the Securities Act of 1933, a plaintiff may plead that a statement of opinion was “untrue” merely by alleging that the opinion itself was objectively wrong, as the Sixth Circuit has concluded, or must the plaintiff also allege that the statement was subjectively false – requiring allegations that the speaker’s actual opinion was different from the one expressed – as the Second, Third, and Ninth Circuits have held.

Counsel of Record:   

Willkie Farr & Gallagher LLP

Richard D. Bernstein

James C. Dugan

Zheyao Li

Other Amici:   

None.