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    06.02.15 Professor Roberta Karmel Comments on ‘Implications of Omnicare’ in Securities Regulation & Law Report
    photo of a professor

    Securities Regulation & Law Report featured an article by Professor Roberta Karmel, “Implications of ‘Omnicare,’” in its Antifraud coverage.

    “Implications of ‘Omnicare’” examines the recent case Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, in which it was decided that an issuer may be liable under section 11 of the Securities Act for opinions set forth in a registration statement if the issuer did not genuinely hold the opinion stated or if the issuer failed to disclose material facts about the basis for the opinion.

    “SEC documents are full of opinions, including forecasts,” Karmel writes, “even though they are not phrased as they were in Omnicare as statements of belief.”

    Read the article.