Laborers' District Council Construction Industry Pension Fund

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Supreme Court Guidance on Opinions in Registration Statements

Faced with the new test enunciated by the U.S. Supreme Court this year in Omnicare v. Laborers District Council Construction Industry Pension Fund, corporate securities lawyers will have to make extremely difficult and subjective decisions when it comes to ...

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corpcounsel.com
May 5, 2015
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Luluemon Ordered to Cough Up WSJ Emails

Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund and Laborers' District Council Construction Industry Pension Fund filed two books and records actions against Lululemon in 2013. Dennis Wilson, Lululemon's founder, entered into a ...

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Courthouse News Service
May 4, 2015
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Strong IPO market expected to continue and bring more litigation

In its March 24 ruling in Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund et al., the high court held that under Section 11, a statement of opinion in a registration statement may be incorrect but does not necessarily create ...

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Business Insurance
May 9, 2015
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Del. Ch. Court: Lululemon Not Obligated To Produce Non-Employee Director E-Mails

In an April 2014 oral ruling, Parsons found that two Lululemon stockholders—the Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund, and the Laborers' District Council Construction Industry Pension Fund—had established a proper ...

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Bloomberg BNA
May 6, 2015
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Lululemon Directors' Personal Emails Off Limits in 220 Request

When the plaintiffs, Hallandale Beach Police Officers’ and Firefighters’ Personnel Retirement Fund and Laborers’ District Council Construction Industry Pension Fund, were dissatisfied with the 195 documents ultimately turned over by Lululemon ...

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Law.com
May 7, 2015
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Supreme Court Decides Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund

On March 24, 2015, the U.S. Supreme Court held that a pure statement of opinion in a securities registration statement is not an “untrue statement of a material fact” under Section 11 of the Securities Act of 1933 just because the opinion is later ...

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jdsupra.com
March 25, 2015
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“Way overstates,” in a Supreme Court opinion

From today’s majority opinion, by Justice Kagan, in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund: Moreover, Omnicare way overstates both the looseness of the inquiry Congress has mandated and the breadth of liability ...

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Washington Post
March 24, 2015
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CORRECTED: Lululemon Wins Protection Of Execs' Personal Emails

Lululemon Athletica Inc., and Laborers District Council Construction Industry Pension Fund v. Lululemon Athletica Inc , case numbers 8522 and 9039, in the Delaware Court of Chancery. --Additional reporting by Lance Duroni, Matt Chiappardi and Jamie Santo.

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Law 360
May 1, 2015
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Supreme Court Omnicare Ruling Addresses Company Opinion Statements

The agreement didn’t include any finding of wrongdoing by the Covington, Kentucky-based company. The case is Omnicare v. Laborers District Council Construction Industry Pension Fund, 13-435.

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Insurance Journal
March 27, 2015
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Supreme Court explains difference between fact, opinion on registration statements

In the Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, the Supreme Court agreed in a ruling that a “sincere statement of pure opinion is not an 'untrue statement of material fact,' regardless whether an investor can ...

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Inside Counsel
March 26, 2015
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Supreme Court hears arguments on Omnicare securities case

In Omnicare Inc. vs. Laborers District Council Construction Industry Pension Fund et al., the 6th U.S. Circuit Court of Appeals said the pension fund had a case, but Omnicare petitioned the Supreme Court to weigh in on what plaintiffs have to plead and ...

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Pensions & Investments
November 3, 2014
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Omnicare on Supreme Court’s Docket

Snore-der in the court! The Supreme Court October 2014 term has a business case docket so boring that Washington lawyer John Elwood of Vinson & Elkins compares it to “watching C-Span 3 after watching Fast & Furious 6.” Nevertheless, some of these ...

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Barron's
October 12, 2014
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Lululemon Ordered to Cough Up WSJ Emails

Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund and Laborers' District Council Construction Industry Pension Fund filed two books and records actions against Lululemon in 2013. Dennis Wilson, Lululemon's founder, entered into a ...

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Courthouse News Service
May 4, 2015
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Securities Cases To Watch In 2015

Here's a look at the securities litigation to watch 2015. Omnicare Inc. et al. v. Laborers District Council Construction Industry Pension Fund et al. The most highly anticipated decision in 2015 is the Supreme Court's decision in Omnicare Inc. et al.

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Law 360
January 2, 2015
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U.S. high court limits investor suits over deceptive comments

Kagan said she sees no reason the court's ruling in Omnicare v. Laborers District Council Construction Industry Pension Fund would make companies hesitant to disclose information useful to investors. "To the extent our decision today chills misleading ...

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Philadelphia Daily News
March 25, 2015
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Prosecutors further refute Blankenship defense pretrial motions

Laborers District Council Construction Industry Pension Fund, further supports the denial of the defense motions. Prosecutors said the case, which concerns a securities filing that claimed Omnicare was in compliance with applicable laws, had claims ...

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The Register Herald
April 1, 2015
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Justices stick to middle of the road in Omnicare securities opinion

The court’s ruling Tuesday in Omnicare v. Laborers District Council Construction Industry Pension Fund – which addresses when, if ever, opinions in offering statements can be the basis of claims under Section 11 of the Securities Act of 1933 ...

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Reuters
March 24, 2015
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Lululemon Brass Sued Over Ex-Chairman's 'Suspicious' Trades

In a highly redacted complaint, Lululemon shareholders the Hallandale Beach Police Officers' and Firefighters’ Personnel Retirement Fund and the Laborers' District Council Construction Industry Pension Fund both allege that Wilson unloaded the stock days ...

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Law 360
July 21, 2015
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The Supreme Court Addresses Scope of Section 11 Liability for Statements of Opinion

As the Supreme Court recently explained in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, 135 S. Ct. 1318 (2015), that distinction is significant when it comes to liability under Section 11 of the Securities Act of 1933.

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jdsupra.com
July 27, 2015
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Supreme Court: A Term-End Review”

In a March 24, 2015, opinion, the Supreme Court held in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund that an issuer may be held liable under Section 11 of the Securities Act of 1933 for statements of opinion made in a ...

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Law Fuel
July 24, 2015
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A Mixed Term for Business at the Supreme Court

One example was Omnicare v. Laborers District Council Construction Industry Pension Fund, which limited the liability companies face when expressing opinions in securities filings. But Goldman said the decision also “opened the door to broad liability on ...

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Law.com
July 9, 2015
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Justices Rule Opinions May Sometimes Be Basis for Securities Fraud Suits

The case, Omnicare v. Laborers District Council Construction Industry Pension Fund, No. 13-435, arose from a 2005 registration statement that included a discussion of Omnicare’s business model, which was based in part on rebates from drug companies.

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New York Times
March 24, 2015
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Investor Suits Limited by Top U.S. Court in Omnicare Case

The case is Omnicare v. Laborers District Council Construction Industry Pension Fund, 13-435. To contact the reporter on this story: Greg Stohr in Washington at gstohr@bloomberg.net To contact the editors responsible for this story: Patrick Oster at poster ...

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Bloomberg
March 24, 2015
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Supreme Court separates facts from opinion in Omnicare ruling

In 2006, a group of investors, led by the Laborers District Council Construction Industry Pension Fund, sued the company under a securities law provision that authorizes lawsuits if a statement “contains an untrue statement of a material fact” or ...

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Los Angeles Times
March 24, 2015
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Supreme Court Opines on Opinions v. Facts in the Sale of Securities

On March 24, 2015, the U.S. Supreme Court decided Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund et. al. The pension funds (Fund) had brought a claim against Omnicare, which significantly hinged on two sentences in Omnicare ...

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NATIONAL LAW REVIEW
March 25, 2015
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Continental shareholder files lawsuit over pipeline deal

Laborers District Council Construction Industry Pension Fund contends the deal will cost Continental nearly $100 million over five years to move up to 100,000 barrels of oil a day on the pipeline. That is one-third of the total development cost of the ...

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Oklahoma News
September 20, 2013
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U.S. Supreme Court denies S&P investors’ petition for certiorari

v. Laborers District Council Construction Industry Pension Fund by holding that the alleged knowing falsity of S&P’s statements is irrelevant.

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Lexology
November 9, 2015
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Omnicare – It’s Not a Lie if I Believe What I Say, Right?

Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, 135 S.Ct. 1318 (Mar. 24, 2015). In other words, if I state something that is false, but I truly believe what I say, am I liable? Faced with opposing points of view, the Court ...

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jdsupra.com
December 1, 2015
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Lululemon Investors Fight To Keep Alive Suit Over Trades

In their highly redacted July complaint, shareholders the Hallandale Beach Police Officers' and Firefighters’ Personnel Retirement Fund and the Laborers' District Council Construction Industry Pension Fund alleged that Wilson unloaded the stock days ...

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Law 360
November 14, 2015
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Way overstates,” in a Supreme Court opinion

From today’s majority opinion, by Justice Kagan, in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund: Moreover, Omnicare way overstates both the looseness of the inquiry Congress has mandated and the breadth of liability ...

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Washington Post
March 24, 2015
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Justices Poised to Take Up '33 Act Pleading Questions in October Term

On Nov. 3, in Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund, No. 13-435, the Court will consider whether knowledge of falsity is required to state a Section 11 claim (29 CCW 188, 6/18/14). Although neither case commands the ...

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Bloomberg BNA
October 2, 2014
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Email Sought From Lululemon Directors' Personal Accounts

Law360, Wilmington (December 01, 2014, 8:21 PM ET) -- Investors in Lululemon Athletica Inc. who've sued to inspect the yoga apparel maker's books and records pushed Monday to see emails from the directors' personal accounts, claiming there are information ...

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Law 360
December 2, 2014
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Cases on Securities Fraud, Teeth-Whitening, Prisoner Beards Enter Supreme Court’s Docket

Laborers District Council Construction Industry Pension Fund: At issue here is a disagreement among ... to a lawsuit alleging the pharmaceutical services company committed securities fraud. As WSJ’s Brent Kendall reports, the plaintiff investors allege ...

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The Wall Street Journal
March 2, 2014
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How Should Companies Pay When They Lie?

The case, Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund, arose in the aftermath of a $765 million public stock offering in 2005 by long-term-care giant Omnicare. In its registration statement filed with the Securities and ...

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bloombergview.com
November 3, 2014
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Shareholders group files suit against Hamm, Continental, Hiland

The suit, filed Wednesday by Laborers District Council Construction Industry Pension Fund, claims Hamm unfairly benefits from an agreement on a pipeline from North Dakota to Wyoming because of his ties to both companies. As well as Hamm, the suit also ...

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Enid News
September 20, 2013
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Continental shareholder files lawsuit over pipeline deal

A Continental Resources Inc. shareholder has filed a lawsuit over the company's pipeline deal with affiliate Hiland Partners LP. Laborers District Council Construction Industry Pension Fund contends the deal will cost Continental nearly $100 million over ...

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Oklahoma News
September 20, 2013
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Supreme Court Rejects SG's Plan for Argument Time in Securities Case

Parties in U.S. Supreme Court litigation usually vie to have the ... The case is Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund, a securities fraud dispute that could have important ramifications when a company is sued ...

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nationallawjournal.com
October 15, 2014
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Supreme Court Poised to Decide Cases on Bias, Employment, and Outlaw Fish

The justices will hear arguments in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund on Nov. 3. Contraband Fish and the Danger of “Overcriminalization”: A strong nominee for Weirdest Facts of the 2014-15 term, Yates v.

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Bloomberg
October 6, 2014
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Pension-related cases being heard by the Supreme Court

The Supreme Court's new term includes cases challenging ... The securities case, Omnicare Inc. vs. Laborers District Council Construction Industry Pension Fund et al., will be heard first, with arguments scheduled for Nov. 3. After reaching settlements ...

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Business Insurance
October 12, 2014
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RPT-Shareholders sue oil driller Continental CEO over pipeline investment

Last April, Continental said it would pay $95.8 million for a five-year option to ship 10,000 barrels per day on the Double H pipeline ... the Pennsylvania Laborers District Council Construction Industry Pension Fund, which owns an unspecified number ...

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Reuters
February 10, 2014
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Securities fraud: Opinions on trial at the Supreme Court

But the plaintiffs in a pending Supreme Court case are trying to chip away at that critical safeguard. That case — Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund — involves a suit under Section 11 of the Securities Act ...

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Inside Counsel
December 17, 2014
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Monday at the Supreme Court

Laborers District Council Construction Industry Pension Fund and Cement Masons Local 256 Funds (“Laborers”) invested in Omnicare stock from the 2005 public offering. Laborers allege that Omnicare was engaged in illegal activities at the time of the ...

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Talk Radio News Service
November 2, 2014
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Supreme Court to review Omnicare fraud claim

which involves Halliburton Co., could undercut the ability of shareholders who buy stock on the open market to press class-action fraud suits against companies. The case is Omnicare v. Laborers District Council Construction Industry Pension Fund, 13-435.⬛

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Cincinnati
March 3, 2014
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Viewpoint: A Big Week in Securities at the Supreme Court

The U.S. Supreme Court has commenced its new term, with several significant business-related matters scheduled for oral argument. Omnicare v. Laborers District Council Construction Industry Pension Fund, No. 13-435, was heard on Nov. 3, and Yates v.

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therecorder.com
November 2, 2014
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Omnicare Securities Suit Heads to Supreme Court

The Indiana State District Council of Laborers and HOD Carriers Pension and Welfare Fund leads the class action along with the Cement Masons Local 526 Combined Funds and the Laborers District Council Construction Industry Pension Fund.

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Courthouse News Service
March 2, 2014
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Supreme Court passes on securities lawsuit timing case

The case, brought by Omnicare Inc. against Laborers District Council Construction Industry Pension Fund et al., “seeks to resolve a sharp conflict among the circuits over a critical and recurring issue of pleading under the federal securities laws ...

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Pensions & Investments
September 30, 2014
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