Omnicare

Issuers Should Believe…and Have a Reason to Believe

In a recent case involving a company called Omnicare, the U.S. Supreme Court made its first significant analysis of liability for opinions expressed by an issuer of securities in a public offering. Such expressions of opinion are a wheeze frequently resorted to by issuers and the deal team’s lawyers when the issuer wants to make a statement in its prospectus […]